Hong Kong

Securities / Derivatives

SFC to Raise Competency Bar for Licensees, With Some Flexibilities

By Editors | 13/12/2020

Among the changes, the SFC proposes tougher requirements for advisers on Takeovers Code transactions, to address concerns about the poor quality of work in this area.

Market Infrastructure

Data Storage Rules: A Christmas Present From the SFC

By Derek McGibney | 11/12/2020

While the SFC’s new FAQs on the use of cloud storage make compliance more manageable, licensed corporations still need to weigh their options, says Derek McGibney at Cognitive GRC.

Market Infrastructure

SFC Provides Alternative for Compliance With Data Storage Rules

By Manesh Samtani | 10/12/2020

The SFC will accept an undertaking from core function MICs as an alternative means of satisfying the requirement for a countersigned notice or undertaking from an EDSP.

Market Infrastructure

PBOC, HKMA Explore Southbound Leg for Bond Connect

By Editors | 09/12/2020

The PBOC and HKMA will form a working group to study the framework for a southbound leg of Bond Connect. No timelines have been set.

Securities / Derivatives

SFC Amendments to REIT Code Have Taken Effect

By Editors | 08/12/2020

The SFC has also adopted a more streamlined approach to compliance with requirements regarding vetting and approval of REIT-issued announcements and circulars.

ESG / Sustainability

HKMA Invites Banks to Participate in Climate Stress Testing Pilot

By Editors | 07/12/2020

Participating banks will need to assess physical risk and transition risk separately under different scenarios, and evaluate the financial impact in both the short term and long term.

AML / KYC

SFC Proposes to Introduce HK Investor ID Regime in 2022

By Editors | 06/12/2020

The proposed investor ID regime is expected to be implemented in Q1 of 2022 at the earliest. A separate reporting regime is proposed for OTC securities transactions.

Fintech / Regtech

HKMA, PBOC Prepare for Cross-border Testing of Digital Yuan

By Manesh Samtani | 06/12/2020

The HKMA is also exploring options to leverage the FPS to enable instantaneous cross-border payments, according to chief executive Eddie Yue.

Market Infrastructure

Hong Kong to Introduce Corporate Rescue Regime Next Year

By Manesh Samtani | 03/12/2020

Shareholders, secured creditors, unsecured creditors and employees of distressed companies will all end up with better outcomes under the proposed corporate rescue procedure.