Authorised institutions and licensed corporations wishing to offer virtual asset dealing services can do so only by partnering with SFC-licensed trading platforms.
January 31, 2022The government has asked the Council of Financial Regulators to bring forward an investigation into whether lenders are implementing the new lending rules as intended.
January 21, 2022A mystery shopping programme is being launched by the HKMA, MPFA and IA to assess the extent to which statutory and regulatory objectives are being met by intermediaries.
January 3, 2022The new law requires lenders to act responsibly at all times. They can be forced to refund interest, fees and damages for failing to do so.
December 1, 2021Under the changes, only a small group of more complex CIS would continue to be considered complex products and subject to additional disclosure requirements.
November 4, 2021The circular follows the $30mn issuance of Hong Kong's first catastrophe bond by Greater Bay Re, a state-sponsored special purpose vehicle.
October 12, 2021Firma NZ failed to conduct product suitability tests for clients and to regularly provide statements to investors. The contraventions were "persistent and systemic".
October 12, 2021Underwriters and distributors are directed to ensure their systems, processes and controls facilitate good customer outcomes.
September 24, 2021Some banks did not ensure the products were suitable, or did not explain product features and risks to customers.
September 16, 2021Among the recommendations are the introduction of suitability requirements for AI-driven financial services, and add-on capital buffers based on AI algorithms.
August 17, 2021