Hong Kong

AML / KYC

Hong Kong VASP Regime to Take Effect on 1 March 2023

By Natalie Curtis | 26/06/2022

The government acknowledges that the VASP regime will be more rigorous and comprehensive than those in Singapore, UK and Japan.

Market Infrastructure

HKEX Instructs Market to Stop Issuing BCANs to Mainland Investors

By Editors | 24/06/2022

The instructions follow a December 2021 consultation from the CSRC that said Mainland investors would not be allowed to engage in northbound Stock Connect trading.

Fintech / Regtech

HKMA to Prepare Roadmap for Promoting Key Fintech Areas

By Manesh Samtani | 23/06/2022

HKMA will formulate a detailed roadmap of initiatives to further promote Investech, Wealthtech, Insurtech and Greentech, as well as artificial intelligence and DLT.

Securities / Derivatives

SFC Cites Conduct, Technology and Climate as Key Priorities

By Editors | 23/06/2022

The SFC’s latest annual report highlights work to enhance book building and placing practices, regulate fund trustees and custodians, and enhance climate disclosure for fund investors.

ESG / Sustainability

HKMA Asks Banks to Apply Basel Climate Risk Guidance

By Editors | 22/06/2022

The HKMA will assess the need to align its supervisory framework with BCBS Principles for managing and supervising climate-related financial risks.

Market Infrastructure

Hong Kong Travel Restrictions Hindering Wealth Connect – Reports

By Sanday Chongo Kabange | 22/06/2022

Wealth Management Connect had attracted only 0.3 percent of the total quota since its inception in October. HKIFA calls for an end to quarantine rules.

AML / KYC

HK Customs Arrests Woman for Suspected Laundering of HK$350m

By Editors | 21/06/2022

The woman used 23 personal bank accounts to launder the money over three years, mostly for shell companies set up by individuals from mainland China.

ESG / Sustainability

Hong Kong Advances Work to Develop Green Finance Capacity, Talent

By Editors | 21/06/2022

Hong Kong will develop a GHG emissions estimation tool, a green classification framework, and adopt the ISSB standards when they’re ready.

AML / KYC

Hong Kong: Victims Lost HK$1.28bn from Fraud from Jan-April

By Editors | 21/06/2022

Email fraud accounted for HKD 333 million of losses to companies and individuals in the first four months of this year.