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HKMA Extends Corporate Loan Support Scheme
By Editors | 19/09/2022
The Pre-approved Principal Payment Holiday Scheme has been in effect since May 2020. The HKMA says some corporates are still facing cash-flow pressures.
Crypto / Digital Assets
BIS, HKMA to Explore Use of DeFi Tools for SME Finance
By Editors | 18/09/2022
Project Dynamo will study whether and how DeFi tools such as blockchain and smart contracts can improve access to finance for SMEs.
Securities / Derivatives
PwC, KPMG Ready to Host PCAOB Audit Inspections – Report
By Editors | 16/09/2022
PCAOB inspectors are expected to arrive in Hong Kong soon, but will have to serve three days in hotel quarantine before beginning work at PwC and KPMG’s Hong Kong offices.
Securities / Derivatives
HKEX Considers Relaxing Listing Requirements for Tech Firms
By Editors | 14/09/2022
Under the proposals, the revenue requirement for commercialised tech firms would be lowered from HK$500 million to between HK$200-300 million.
Crypto / Digital Assets
SFC Allows HashKey to Manage Funds Comprising 100% Crypto
By Editors | 13/09/2022
HashKey says it will be allowed to manage funds exclusively investing in virtual assets in compliance with the SFC’s regulations
AML / KYC
FSDC Calls for Review of Hong Kong ‘Suitability’ Framework
By Manesh Samtani | 13/09/2022
The FSDC says Hong Kong’s suitability framework has grown too “complex” and the suitability obligations are “overly prescriptive”.
Securities / Derivatives
HKEX is Preparing for IPO Wave by Streamlining IPO Processes
By Editors | 12/09/2022
Chairwoman Laura Cha revealed that HKEX has over 170 IPO applications from companies, but many are waiting for market conditions to improve before listing.
Fintech / Regtech
HKMA, BOT Exploring Cross-border Payments Arrangement
By Editors | 12/09/2022
Visitors would be able to use their home faster payment system to pay for shopping and food in each other’s markets via their mobile phones.
HKMA Launches Online Resource for Aspiring Bankers
By Editors | 08/09/2022
The new platform, Banking GPS, provides information on major bank functions and job openings, tips on job-hunting, and experience sharing from practitioners.
Securities / Derivatives
HKEX to Enhance Obligations for Stock Options Market Makers
By Editors | 08/09/2022
A first phase of enhancements will take effect on 31 October 2022. A second phase will be implemented in H1 2023, subject to market readiness.
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