Hong Kong

AML / KYC

HK Victims Have Lost HKD 2.6 billion to Scams This Year

By Editors | 10/10/2022

Online investment fraud accounted for HKD 540 million of all online scams, which is largely attributed to an increase in crypto-related scams.

Securities / Derivatives

HKIFA Calls for Review of MPF Investment Framework

By Editors | 10/10/2022

The HKIFA is calling for relaxations to allow MPF funds to invest in a wider range of asset classes, and to provide investment flexibility to those already in retirement.

Enforcement

HK Court Orders Founder to Buy Shares from Wronged Investors

By Editors | 07/10/2022

The order is the first made to require a listed company executive to buy shares held by other investors “at a price to be determined by the court”.

AML / KYC

Hong Kong Police Launch New Anti-Fraud Search Engine

By Editors | 06/10/2022

Dubbed ‘Scameter’, the search engine allows members of the public to check information such as bank account numbers and email addresses for previous links to scams.

ESG / Sustainability

ISSB Adoption in Hong Kong Will Have Global Significance: SFC

By Manesh Samtani | 06/10/2022

The SFC is working with HKEX to develop a regulatory framework for listed company climate-related disclosures “based on the ISSB standards”.

Capital / Liquidity

HKMA to Defer Implementation of Basel III Reforms

By Editors | 06/10/2022

Standards associated with credit risk, operational risk, the output floor, and the leverage ratio will implemented no earlier than 1 January 2024.

Market Infrastructure

New Regulatory Regime for Hong Kong Auditors Takes Effect

By Manesh Samtani | 04/10/2022

The AFRC can subject auditors who commit misconduct to penalties up to HKD 10 million, or three times profit gained, whichever is higher.

Securities / Derivatives

HKSCC Calls for Applicants to Become Authorised Brokers

By Editors | 04/10/2022

Authorised brokers will deal in securities on HKSCC’s behalf. Up to 10 participants will be appointed and expected to start providing services tentatively in Q3 2023.

Enforcement

Hong Kong Charges 13 in Suspects Over Ramp-and-Dump Scheme

By Editors | 03/10/2022

The suspects allegedly used different social media platforms to manipulate the trading in the shares of two Hong Kong-listed companies.