Hong Kong

Enforcement

SFC Suspends Former Private Banker for Regulatory Breaches

By Editors | 22/10/2024

The former Julius Baer private banker lied about meeting a client face-to-face for account opening and about 14 transactions being unsolicited.

Capital / Liquidity

HKMA Introduces New Measures to Boost SME Lending by Banks

By Editors | 21/10/2024

The HKMA lowered the CCyB ratio and will allow banks to early adopt the preferential treatments for SME exposures under the Basel III capital framework.

Securities / Derivatives

SFC, HKEX Announce Enhanced Timeframe for New Listing Applications

By Editors | 21/10/2024

The enhanced timeframe for new stock listings will give companies greater certainty in the timing of their IPOs, the SFC and HKEX said.

Securities / Derivatives

HKMA Announces Establishment of New Unit to Operate CMU

By Editors | 21/10/2024

The new unit, to be known as CMU OmniClear, is expected to take over CMU operations under its own governance structure in January 2025.

Market Infrastructure

HK Govt Departments to Hold First Joint Cybersecurity Drills

By Editors | 20/10/2024

The drills, commencing in November, are aimed at helping government departments and public organisations build their cyber defences.

Enforcement

SFC Opens Insider Trading Case Involving 2020 PayPal Acquisition

By Sanday Chongo Kabange | 17/10/2024

The SFC is pursuing the chairman of a HK-listed company that held shares in PayPal’s acquisition target.

Fintech / Regtech

HKMA Publishes Research on GenAI in the Financial Sector

By Editors | 30/09/2024

HKMA survey of industry practitioners found that most FIs are currently focusing on internal applications of GenAI to drive employee productivity.

Crypto / Digital Assets

Hong Kong Working “Full Steam Ahead” on Stablecoin Legislation

By Sanday Chongo Kabange | 30/09/2024

The FSTB and the HKMA will “strive” to introduce draft legislation for Hong Kong’s stablecoin regulatory regime by end 2024.

AML / KYC

HKMA to “Soon” Consult on Scam Loss Sharing Framework

By Editors | 30/09/2024

The framework will include principles for banks to use when deciding whether scam losses should be compensated, such as whether customers took care to safeguard their personal data.