Hong Kong

Fintech / Regtech

HKMA to Develop Additional Safeguards for Bank Customers

By Manesh Samtani | 20/04/2022

A fresh review of the Banking Code of Practice has been launched, covering information disclosure, customers’ finance management, and dispute handling.

AML / KYC

Hong Kong to Propose Regulatory Regime for Crowdfunding

By Sanday Chongo Kabange | 19/04/2022

The government will issue a consultation this year proposing a licensing or registration requirement for crowdfunding platforms in Hong Kong.

Securities / Derivatives

Hong Kong Set to Relaunch Inaugural Retail Green Bond

By Sanday Chongo Kabange | 19/04/2022

The government has increased the target issuance size of the retail green bond. The minimum annual interest rate has also been increased.

AML / KYC

Hong Kong is Moving to a Robust Regulatory Framework for Crypto

By Etelka Bogardi | 19/04/2022

Etelka Bogardi and Amy Chung say Hong Kong’s efforts to regulate the crypto sector and stablecoin market are on the whole in line with international trends while leaving room for further development.

Enhancements to HK Personal Loan Guarantee Scheme Take Effect

By Editors | 19/04/2022

The maximum loan amount per borrower under the 100% Personal Loan Guarantee Scheme is increased. The maximum repayment period and principal moratorium arrangement are extended.

AML / KYC

HKMA Asks Banks to Help Reactivate Dormant Mainland Accounts

By Editors | 18/04/2022

Hong Kong customers are facing difficulties reactivating their Mainland accounts due to travel restrictions preventing them from visiting the banks’ branches in person.

Market Infrastructure

HKEX Set to Launch New Electronic Communication Platform

By Editors | 12/04/2022

Phase 1 of the rollout will allow exchange participants to use the new platform to download day-end trade files and closing price files, starting from 25 April.

Enforcement

SFC Bans China Tonghai Securities Representative for 20 Months

By Editors | 12/04/2022

The representative conducted 1,089 trades in clients’ stock options accounts but was only given specific authorisation for 87 trades of the trades.

Market Infrastructure

Work Advances to Bring RMB-denominated Stocks to Hong Kong

By Manesh Samtani | 11/04/2022

Hong Kong official Christopher Hui said a feasibility study has been completed and the next step is to engage with mainland regulators and relevant organisations.