Hong Kong

Fintech / Regtech

Hong Kong FSTB Issues Policy Statement on Approach to Virtual Assets

By Manesh Samtani | 31/10/2022

The SFC will be consulting on how retail investors may be given a “suitable degree of access” to virtual assets under Hong Kong’s new licensing regime.

Enforcement

SFC Disciplines Takeovers Code Breach with ‘Public Criticism’

By Editors | 30/10/2022

Gold Dragon Worldwide Asset Management failed to disclose trades in a stock during an offer period despite it controlling more than 5 percent of the stock.

AML / KYC

Hong Kong CR to Shield Some Director Info from Public View

By Editors | 30/10/2022

Residential addresses and full ID numbers will be replaced with correspondence addresses and partial ID numbers. FIs can still apply for access to the full data.

ESG / Sustainability

HKEX Launches Carbon Market to Support Net Zero Transition

By Sanday Chongo Kabange | 30/10/2022

The new platform will allow participants to source, hold, trade, settle and retire voluntary carbon credits from internationally-certified carbon projects.

Hong Kong to Tighten Lending Rate Caps from 30 December

By Editors | 29/10/2022

Banks should start notifying customers of the new interest rate limits as soon as practicable and not later than 14 November.

Market Infrastructure

HKEX Suspends VCM on HSI Futures Due to Software Issue

By Editors | 28/10/2022

An external vendor is preparing a software update to fix an issue that caused the VCM to be inadvertently triggered on Tuesday.

HKMA Streamlines Requirements on Use of Tech in Lending

By Editors | 28/10/2022

The streamlined requirements will help lenders accelerate the adoption of advanced data analytics in credit underwriting.

Fintech / Regtech

HKMA Issues Regtech Guide for Sales and Suitability Practices

By Manesh Samtani | 28/10/2022

The guide describes a solution to automating product due diligence and a governance tool for improving oversight of the sales advisory process.

HKMA Confirms Health Arrangements for Upcoming Financial Forum

By Editors | 28/10/2022

Hong Kong Financial Secretary Paul Chan, who is due to deliver a keynote speech at the event, has tested positive for Covid-19 while in Saudi Arabia.