SECURITIES AND FUTURES COMMISSION

Fintech / Regtech

Hong Kong Consults on Crowdfunding Regulatory Regime 

By Sanday Chongo Kabange | 03/01/2023

A Crowdfunding Affairs Office will be set up to centrally process and coordinate regulatory and administrative matters related to crowdfunding activities.

AML / KYC

SFC to Collect More Granular Data from Licenced Firms

By Manesh Samtani | 30/12/2022

Many of the new questions in the SFC’s updated BRMQ focus on AML/CFT practices and brokerage business controls.

Fintech / Regtech

SFC Calls Out Brokers for Slow Implementation of its Data Standards

By Manesh Samtani | 23/12/2022

Brokers are directed to assign one or more MICs to oversee the implementation of the Data Standards, which was meant to be completed in April 2021.

Enforcement

SFC Fines Guosen for Regulatory Breaches Caused by Bugs

By Editors | 21/12/2022

Guosen Securities used expired standing authority of clients because its new operating system failed to send renewal notices to clients.

Market Infrastructure

SFC, CSRC Announce Move to Expand Scope of Stock Connect

By Editors | 19/12/2022

After the expansion, Stock Connect is expected to include stocks that account for more than 80 percent of equity trading in each market.

Hong Kong Names Julia Leung as New SFC Chief

By Editors | 16/12/2022

Julia Leung will become CEO of the SFC on 1 January following Ashley Alder’s departure to become the UK FCA’s new chair.

Crypto / Digital Assets

Hong Kong to List First Crypto Futures ETFs on 16 Dec

By Editors | 15/12/2022

The ETFs are being launched by CSOP Asset Management, one linked to Bitcoin futures and the other to Ether futures traded on the CME.

Fintech / Regtech

HashKey, ZA International to Cooperate on Digital Assets

By Editors | 14/12/2022

The two groups will cooperate on digital assets, Web3 and DLT. ZA International recently unveiled plans to tokenise its ZA Coin.

Crypto / Digital Assets

SFC Issues Fresh Warning About Virtual Asset Risks

By Editors | 14/12/2022

The SFC warns that virtual asset platforms may on-lend customer assets or them in investment or other activities, which could potentially lead to a “total loss”.