Hong Kong

AML / KYC

SFC Issues Warning on Unregulated Virtual Asset Platforms

By Editors | 18/07/2021

Soon after the SFC’s statement, Binance announced that stock tokens will no longer be available for purchase on its website.

Securities / Derivatives

China to Exempt Hong Kong IPOs from Cybersecurity Reviews

By Editors | 18/07/2021

Chinese officials have reportedly outlined an exemption from the requirement to undergo a cybersecurity review for companies destined for a Hong Kong IPO.

AML / KYC

US Government Warns Of Rising Business Risk in Hong Kong

By Editors | 18/07/2021

A business advisory from four US government agencies says US firms should be aware of the risks they face if they continue operating in Hong Kong.

Securities / Derivatives

HKMA Publishes Criteria for PE Funds Seeking Tax Concession

By Editors | 18/07/2021

A fund should have operating expenditure incurred in Hong Kong for the provision of investment management services amounting to at least HK$2mn.

Enforcement

Hong Kong Stock Exchange Issues Revised Enforcement Policy

By Matt Emsley | 16/07/2021

Herbert Smith Freehills partners explain the implications of the Hong Kong Stock Exchange’s updated policy statement on Listing Rule enforcement.

HKMA Announces Final Extension for Trade Loan Deferrals

By Manesh Samtani | 16/07/2021

Corporate customers can further extend their trade facilities for another 90 days until the end of October, when the scheme will expire.

ESG / Sustainability

Hong Kong Launches Centre for Green and Sustainable Finance

By Manesh Samtani | 15/07/2021

The Centre will serve as a cross-sector platform to coordinate the transition efforts and serve as a repository for resources, data and analytics.

Market Infrastructure

HKMA Asks Banks to Bolster Corporate Awareness of LIBOR Cessation

By Editors | 13/07/2021

Banks are asked to distribute a leaflet to all corporate customers by 31 July 2021 and to send confirmation to the HKMA after the exercise is complete.

AML / KYC

Hong Kong Records Drop in Corruption Complaints in 2020: ICAC

By Ranamita Chakraborty | 12/07/2021

Corruption complaints concerning the finance and insurance subsectors registered the highest drop among all subsectors.