Hong Kong

Securities / Derivatives

SFC Takes Issue With Practices of Fund Distributors

By Manesh Samtani | 24/10/2023

The SFC calls out distributor practices such as offering guaranteed returns, imposing lock-up periods, and lowering dealing frequency.

Crypto / Digital Assets

HKMA Establishes New CBDC Expert Group

By Editors | 23/10/2023

The Expert Group comprises faculty members of five local universities, who will support the HKMA’s exploration of key policy and technical issues surrounding CBDC.

Crypto / Digital Assets

Cash-for-crypto Shops Need Regulation, Says HK Customs Official

By Editors | 23/10/2023

A regulatory regime for OTC crypto exchange shops is currently being considered by authorities, according to Commissioner Louise Ho.

Crypto / Digital Assets

SFC, HKMA Issue New Joint Circular on Virtual Assets

By Manesh Samtani | 22/10/2023

The circular supersedes a similar circular from January 2022, setting out additional requirements for intermediaries providing virtual asset services to retail investors.

Hong Kong Gazettes Commencement Notice for Bankruptcy Legislation

By Sanday Chongo Kabange | 20/10/2023

The Commencement Notice seeks to appoint 29 December 2023 as the commencement date for amendments to the Bankruptcy and Companies Legislation.

Enforcement

ICAC Arrests Three in Joint Operation with SFC, AFRC

By Manesh Samtani | 20/10/2023

The case involves suspicions of corporate fraud, corruption, and a conspiracy between a ramp-and-dump syndicate and two listed companies.

Market Infrastructure

NDRC, HKMA to Promote Mainland Bond Issuance in Hong Kong

By Manesh Samtani | 19/10/2023

The MoU was signed at the Belt and Road Forum, where 100-plus other agreements were also signed and Xi Jinping unveiled further plans to support the initiative.

HKMA Takes Issue With Rate Setting Practices in Premium Financing

By Sanday Chongo Kabange | 17/10/2023

Some AIs changed the interest rates they charged for premium financing facilities without ensuring customers knew such changes were possible.

Enforcement

HK Investment Banks Face Naked Short Selling Fines in Korea

By Manesh Samtani | 16/10/2023

The FSS said it uncovered illegal short selling by two global investment banks. The banks were identified by local media as BNP Paribas and HSBC.