The Hong Kong government has issued its widely anticipated consultation conclusions on a new framework to regulate virtual asset exchanges. On 21 May 2021, the Hong Kong Financial Services and the Treasury Bureau (FSTB)...more
5/26/2021
/ Anti-Money Laundering ,
Anti-Terrorism Financing ,
Consultation ,
Crypto Exchanges ,
Cryptoassets ,
FinTech ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Licenses ,
Market Participants ,
Peer-to-Peer ,
Regulatory Requirements
The paper proposes standards of conduct for intermediaries involved in bookbuilding and placing activities in ECM and DCM transactions.
On 8 February 2021, the Securities and Futures Commission of Hong Kong (SFC)...more
Regulators consult on an investor identification regime and outsourcing requirements, and issue guidance on electronic storage of regulatory records and environmental risk management -
This blog post summarises key...more
Regulators propose new regulations for virtual asset exchanges and enhanced customer identity verification requirements, and launch an innovative commercial data interchange.
This blog post summarises key regulatory...more
12/9/2020
/ Anti-Money Laundering ,
Consultation ,
Data-Sharing ,
Financial Institutions ,
FinTech ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Regulatory Standards ,
Singapore ,
Trading Platforms ,
Verification Requirements ,
Virtual Currency
Hong Kong government issued a consultation to implement a new regulatory framework requiring virtual asset exchanges to be regulated by the SFC -
Key Points:
..The Hong Kong Financial Services and the Treasury Bureau...more
The HKMA introduces a new data sharing initiative, reported on the central bank digital currency initiative, and outlined regtech plans.
The fifth annual Hong Kong Fintech Week conference kicked off with speeches and panels...more
11/4/2020
/ Blockchain ,
Commercial Loans ,
Data-Sharing ,
Digital Currency ,
Exports ,
Financial Institutions ,
FinTech ,
Hong Kong ,
Imports ,
Open Banking ,
Popular ,
Regulatory Oversight ,
Small and Medium-Sized Enterprises (SMEs) ,
White Papers
Hong Kong’s Securities and Futures Commission’s introduces new licensing regime to regulate previously unregulated markets and restates expectations regarding security token offerings.
The second day of Hong Kong Fintech...more
A collaborative project led by the Global Blockchain Business Council represents an unprecedented effort to analyze the technical and regulatory blockchain landscape.
On October 14, 2020, the Global Blockchain Business...more
Regulators consult on anti-money laundering guidelines and issue guidance on cybersecurity, best execution, and senior management accountability.
This blog post summarizes key regulatory developments in Hong Kong and...more
10/14/2020
/ AML/CFT ,
Anti-Money Laundering ,
Anti-Terrorism Financing ,
Best Execution ,
Compliance ,
Cybersecurity ,
Financial Institutions ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Regulatory Oversight ,
Regulatory Requirements ,
Senior Managers ,
Singapore
Amidst its continued regulatory focus on money laundering and terrorist financing risks, the SFC seeks to clarify and consolidate guidance for licensed firms.
On 18 September 2020, the Hong Kong Securities and Futures...more
10/2/2020
/ AML/CFT ,
Anti-Money Laundering ,
Consultation ,
Corporate Governance ,
Cross-Border Transactions ,
Enforcement Actions ,
FATF ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Proposed Amendments ,
Risk Assessment
Regulators are consulting on how to enhance trust business regulation, introduce new omnibus legislation, and encourage best practices in sustainable banking.
This blog post summarises key regulatory developments in Hong...more
Regulators seek to expand market connectivity for wealth management products and enhance financial institutions’ environmental risk management.
This blog post summarises key regulatory developments in Hong Kong and...more
The SFC’s consultation conclusions carve out non-financial groups and multilateral portfolio compression services.
On 12 June 2020, the Securities and Futures Commission (SFC) published its conclusions (Consultation...more
Regulators seek to address “rolling bad apples”, bank culture reform, and cryptocurrency derivatives.
This blog post summarises key regulatory developments that took place in Hong Kong and Singapore in May 2020, as...more
Market participants must treat clients fairly and exercise care when recommending potentially volatile or illiquid products.
In response to ongoing volatility in local and international markets caused by the COVID-19...more
SFC outlines new regulatory framework for virtual asset trading platforms, HKMA highlights recent FinTech initiatives, and PBOC discusses China’s forthcoming central bank digital currency.
The fourth annual Hong Kong FinTech...more
11/7/2019
/ AML/CFT ,
Banking Sector ,
China ,
Digital Assets ,
Digital Currency ,
FinTech ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Payment Systems ,
Popular ,
Trading Platforms
MAS hopes to strengthen controls on market abuse with new client identification and record keeping requirements for FIs.
Key Points:
..In August 2019, the Monetary Authority of Singapore (MAS) proposed four new...more
8/9/2019
/ Beneficial Owner ,
Broker-Dealer ,
Capital Markets ,
Client Identification Rule ,
Electronic Identification ,
Financial Institutions ,
Market Abuse ,
Monetary Authority of Singapore ,
Penalty Enhancements ,
Recordkeeping Requirements ,
Singapore ,
Traders
The HKMA and SFC are jointly consulting on further enhancements to OTC derivatives reporting and clearing obligations.
Key Points:
..The HKMA and the SFC have proposed mandating the use of UTIs for the reporting...more
The TMA is now consulting on technical refinements to the HONIA, the proposed alternative reference rate to the HIBOR.
Key Points:
..In July 2014, the FSB issued recommendations on reforming interest rate benchmarks,...more
Sponsors should maintain best practices in IPO engagements in light of increased enforcement action and regulatory scrutiny from the SFC.
Key Points:
..In March 2019, the Hong Kong securities regulator, the Securities...more
The SFC has outlined its regulatory approach to the management and distribution of virtual asset funds and virtual asset exchanges.
Key Points:
..Investor protection is paramount and the SFC is taking steps to tighten...more
Best execution is currently a hot topic for global regulators and the past year has seen notable regulatory focus in this area. Amid this development, firms are recommended to review their global best execution compliance...more