Hong Kong

Securities / Derivatives

Hong Kong, Saudi Exchanges to Explore Cross Listings

By Sanday Chongo Kabange | 07/02/2023

A delegation to Saudi Arabia led by Hong Kong chief executive John Lee will try to persuade Aramco to list on HKEX’s market.

Big Picture

FSDC Paper Sets Out Key Factors to Facilitate VCM Growth

By Editors | 07/02/2023

FSDC paper discusses key considerations that would be conducive to the development of Hong Kong’s VCM ecosystem.

AML / KYC

SFC Seeks Early Submission of Data Required Under HKIDR

By Editors | 06/02/2023

Intermediaries are asked to submit their BCAN-CID Mapping Files as soon as possible to ensure sufficient time to verify the data and rectify any errors.

Securities / Derivatives

Hong Kong: New Regulatory Regime for Depositories to Start by 2025

By Editors | 06/02/2023

About 20 depositaries and 300 individuals will require licensing under RA 13, the new regulated activity for depositories of collective investment schemes.

AML / KYC

HKMA Confirms Plans to Introduce Stablecoin Regulations

By Editors | 01/02/2023

Stablecoins must be fully backed, redemption at par must be available at all times, and issuers must be licenced. Algorithmic stablecoins will not be accepted.

AML / KYC

Westpac Fined in Hong Kong Over Delayed Customer Reviews

By Editors | 31/01/2023

Out of 143 customers who were subject to periodic reviews between June 2016 and May 2017, there were delays in 121 customers – of which 58 were of high risk.

Enforcement

SFC Fines Private Fund Adviser for Failing to Protect Investors’ Interest

By Editors | 31/01/2023

Cardinalasia Consulting and its responsible officer failed to ensure that the manager of the five private funds received appropriate advice.

Market Infrastructure

Exchanges Publish Draft Rules to Expand Stock Connect

By Editors | 20/01/2023

The draft rules cover changes to align the Mainland and Hong Kong’s trading calendars and expand the scope of stocks that can be traded via Stock Connect.

AML / KYC

HKMA Consults on Changes to AML/CFT Guideline for Banks

By Manesh Samtani | 19/01/2023

Banks must perform CDD on customers transferring virtual assets. Digital ID system iAM Smart can be used for identity verification.