Hong Kong

Capital / Liquidity

HKMA Proposes BELR, BCR Changes to Implement Basel III

By Editors | 20/03/2023

Proposed changes to the banking exposure limits rules and the banking capital rules are open for comment until 21 April.

Securities / Derivatives

SFC Issues Guidance on New Mainland Rules for Overseas Listings

By Editors | 19/03/2023

The guidance covers disclosures of interests in Mainland issuers and the application of the Takeovers Code under the new Mainland regulations.

Crypto / Digital Assets

SFC Grants First In-Principle Approval to STO Platform

By Editors | 19/03/2023

The approval was granted to Signum Digital Limited, a joint venture between Coinstreet Holdings and Somerley Capital Holdings.

Securities / Derivatives

PCAOB Inspectors to Visit Hong Kong Auditors Next Week

By Editors | 17/03/2023

PCAOB inspectors will meet Deloitte and EY next week to prepare for audit inspections that will take place later this year.

Enforcement

SFC, ICAC Arrest Five More Ramp-and-Dump Syndicate Members

By Editors | 16/03/2023

The arrestees include qualified accountants and senior executives of a number of Hong Kong-listed companies, the SFC and ICAC said.

Securities / Derivatives

HKEX Confirms Plans to Launch RMB Counter of its Stock

By Editors | 16/03/2023

HKEX said the launch of RMB counter will allow investors to seamlessly interchange between securities listed in both HKD and RMB.

AML / KYC

HKIMR Report Explores GBA Cross-border Payments Challenges

By Editors | 16/03/2023

A survey of FIs found that some GBA transactions are still processed manually. Other challenges relate to differing messaging formats, regulatory requirements and investment quotas.

Enforcement

SFC Fines Brokerage for 2015 System Testing Incident

By Editors | 14/03/2023

I-Access Investors incorrectly used data from system testing as production data and inadvertently triggered 27 stop loss sell orders by 12 clients.

Market Infrastructure

HK to Amend Clearing Rules to Account for IBOR Reforms

By Editors | 13/03/2023

Mandatory clearing will be required for certain OTC transactions referencing ARRs rather than for those referencing IBORs that are being discontinued.