The updated AML/CFT guideline includes a new stand-alone chapter on regulatory requirements and standards for addressing ML/TF risks associated with virtual assets.
May 25, 2023Many of the new questions in the SFC's updated BRMQ focus on AML/CFT practices and brokerage business controls.
December 30, 2022Most successful business email compromise frauds occurred because LCs did not check or verify the identities of email senders or they ignored red flags.
March 25, 2022The SFC expresses concern that some licensed firms may not have plans in place to deal with financial distress or the sudden unavailability of key staff.
March 7, 2022Staff or directors of licensed corporations whose main purpose of travel is for the management of the firm's Mainland business are eligible.
December 14, 2021Firms sold investment products with an aggregate transaction amount of HKD 5.7 trillion during 2020, with the participation of over 700,000 investors.
October 8, 2021The guidelines will take effect on 30 September, except for the new cross-border correspondent relationships requirements, which take effect six months later.
September 16, 2021The investor identification regime is expected to be launched in H2 2022. The securities transactions reporting regime will go live in H1 2023.
August 11, 2021Ramp-and-dump scams now account for about half of the market manipulation cases being investigated by the SFC. Overseas investors also being targeted.
July 27, 2021The SFC says vaccinations are a critical part of operational risk management. The HKMA is requiring banks to submit a list of unvaccinated staff.
June 3, 2021