Hong Kong

HK Cyberport Data Breach Prompts Discussions of New Cybersecurity Law

By Editors | 21/09/2023

An estimated 400 gigabytes of data was compromised, including the personal information of Cyberport staff and several startups.

Capital / Liquidity

INTERVIEW: Hong Kong’s Codes On Takeovers, Mergers Ripe for Amendment

By Jill Wong | 20/09/2023

Roger Cheng, who used to head the takeovers team at Hong Kong’s SFC, talks to Regulation Asia about the proposed changes to the SFC’s codes on takeovers and mergers and share buy-backs.

AML / KYC

HK Police Force Hosts First-ever Cyber Policing Symposium

By Editors | 20/09/2023

Hong Kong and Mainland officials called for greater cross-border cooperation between law enforcement agencies to deal with cybercrime threats.

Enforcement

Hong Kong Police Arrest Eight in JPEX Crypto Fraud Case

By Manesh Samtani | 19/09/2023

Police said complaints have been received from 1,641 investors reporting HKD 1.2 billion in losses, making it the single largest fraud case in Hong Kong’s history.

Cayman Islands to Open First Asia Office in Singapore

By Editors | 19/09/2023

The Cayman Islands government said the new office will help it pursue business opportunities in Asia and build strategic relationships including in Hong Kong.

Enforcement

SFC Imposes Seven Month Ban on Former Taiping Securities RO

By Editors | 19/09/2023

The former responsible officer logged into clients’ internet trading accounts to place orders for them, and failed to maintain proper records of the order instructions.

Fintech / Regtech

Hong Kong Launches Open API Framework for Insurance Sector

By Editors | 19/09/2023

A Central Register has also been developed as a new digital infrastructure for API-related initiatives in the insurance industry.

Enforcement

SFC Penalises Chee Tak Securities and MIC for Regulatory Breaches

By Editors | 19/09/2023

Chee Tak Securities had no written manuals, policies and procedures on recording order instructions, ongoing monitoring, trade surveillance or employee dealing.

Crypto / Digital Assets

HKMA, SFC Warn of Illegal Offerings by Crypto Firms

By Sanday Chongo Kabange | 18/09/2023

The HKMA warned about crypto firms labelling themselves as banks. The SFC warned about a crypto firm called JPEX which falsely claims to be licensed.