Hong Kong

Enforcement

HK ICAC Charges Bank Employee and Two Others for Bribery

By Editors | 28/02/2022

A relationship manager and two representatives of secretarial services companies allegedly offered and accepted bribes to help non-domestic clients open accounts with three Hong Kong banks.

AML / KYC

The SFC Approach to Virtual Assets Prioritises Investor Protection

By Manesh Samtani | 28/02/2022

Since 2018, the steps taken by the SFC to regulate the virtual asset space have prioritised investor protection, first and foremost.

Capital / Liquidity

CBIRC Incentivises HK Cat Bond Issuance by Mainland Insurers

By Editors | 27/02/2022

Preferential treatment in place since 2018 has been extended to mainland insurers that issue catastrophe bonds in the Hong Kong market.

ESG / Sustainability

HK FRC Establishes Sustainability & Climate Action Task Force

By Editors | 24/02/2022

The task force will provide high level recommendations on strategic actions the FRC should consider to promote sustainability reporting in Hong Kong.

Market Infrastructure

HK Budget Includes More Borrower Relief, Capital Market Reforms

By Manesh Samtani | 23/02/2022

Finance Secretary Paul Chan announced measures to further reform Hong Kong’s listing rules, promote the bond market, and introduce yuan share trading in the city.

Securities / Derivatives

SFC Confirms Plans to Regulate Fund Trustees, Custodians

By Manesh Samtani | 23/02/2022

A new regulated activity (RA 13) will be introduced which will subject trustees and custodians of public funds to licensing requirements and ongoing regulatory supervision.

Securities / Derivatives

Hang Seng Indexes Company Proposes to Create New China Index

By Editors | 22/02/2022

The proposed index would be comprised of HSCEI constituents as well as some A-shares, according to the consultation paper.

Fintech / Regtech

HKMA, PBOC Invite Firms to Test Fintech Initiatives Across GBA

By Editors | 21/02/2022

The objective of the link is to provide a “one-stop platform” to allow FIs and technology firms to pilot test their cross-boundary fintech initiatives, concurrently in Hong Kong and GBA cities.

Big Picture

HKCERT Warns of Information Security Risks in 2022

By Editors | 18/02/2022

NFT and metaverse-related risks, and crypto account hacks and thefts, were cited as top information security risks for the first time.