Hong Kong

AML / KYC

OFAC Sanctions Three for Facilitating Lazarus Group Activities

By Editors | 25/04/2023

China-based and Hong Kong-based crypto traders and a North Korean national were sanctioned for laundering illegal proceeds for Lazarus Group.

ESG / Sustainability

HKMA Enhances Climate Risk Stress Testing Framework

By Manesh Samtani | 24/04/2023

Key enhancements include the introduction of a new five-year scenario, additional assessment requirements, and more detailed reporting requirements.

ESG / Sustainability

Hong Kong the Top Market for ESG Investment Training

By Manesh Samtani | 24/04/2023

Paul Moody explains why CFA Institute has seen more growth around its ESG certificate in Hong Kong than in any other market globally.

Crypto / Digital Assets

HK CBDC May Be Developed on Permissioned Blockchain

By Sanday Chongo Kabange | 21/04/2023

The HKMA has asked banks to “review and research and then propose” an implementation approach for the e-HKD.

Crypto / Digital Assets

HK Court Declares Crypto is Property That Can be Held on Trust

By Editors | 19/04/2023

The ruling was related to the March 2019 winding up of Gatecoin, which suffered a hack in 2016 and lost around $2mn in digital assets.

ESG / Sustainability

HKEX: Climate-related Disclosures to Become Mandatory in 2024

By Manesh Samtani | 16/04/2023

New rules aligned with the TCFD recommendations and the ISSB Climate Standard will become effective in January 2024.

Almost $3b Locked Up in Hong Kong MPF Accounts

By Editors | 14/04/2023

Advocacy group Hong Kong Watch estimates 96,000 people are being prevented from access their MPF funds after they moved to the UK with BNO passports.

Crypto / Digital Assets

Hong Kong Doubles Down on Pledge to Develop Web3

By Editors | 13/04/2023

Financial Secretary Paul Chan said crypto market volatility provides an opportunity for Web3 development. SFC official said DeFi platforms require licensing.

Enforcement

SFC Fines Ninety One HK Unit for Unlicensed Futures Dealing

By Editors | 12/04/2023

Ninety One did not have a Type 2 (dealing in futures contracts) licence, believing it could rely on SFO exemptions to deal in futures contracts.