Hong Kong’s highest court confirms that its financial markets regulator may serve proceedings on foreign defendants for restoration orders as of right.
The Hong Kong Court of Final Appeal (CFA) held in a recent judgment...more
A new guidance creates a regulatory framework for tokenisation of retail investment products and provision of services for tokenised financial instruments. By Simon Hawkins and Adrian Fong On 2 November 2023, the Securities...more
Revamped SFC and HKMA guidance applies to intermediaries that distribute products or provide dealing, advisory, and asset management services related to virtual assets.
On 20 October 2023, the Hong Kong Monetary...more
10/30/2023
/ Asset Management ,
Cryptoassets ,
FinTech ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Institutional Investors ,
Investment Adviser ,
Investors ,
Joint Policy Statements ,
New Guidance ,
Regulatory Authority ,
Retail Investors ,
Trading Platforms
SFC proposes guidelines for intermediaries conducting and receiving market soundings in securities and capital market transactions.
On 11 October 2023, the Securities and Futures Commission (SFC) issued a consultation...more
The ruling confirms that courts will consider substance over form when assessing collective investment scheme arrangements and exemptions under securities law.
On 2 August 2023, the Hong Kong Court of Appeal handed down...more
The HKMA and the SFC permit relaxation of suitability and other regulatory requirements while dealing with high-net-worth and experienced investors.
On 28 July 2023, the Hong Kong Monetary Authority (HKMA) and the...more
8/21/2023
/ Accredited Investors ,
Code of Conduct ,
Financial Regulatory Agencies ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Investors ,
Joint Policy Statements ,
New Guidance ,
Professional Investors ,
Regulatory Authority
The regulatory perimeter continues to expand as the Securities and Futures Commission introduces a comprehensive regime to regulate virtual asset service providers.
This Client Alert reviews key obligations and...more
The latest statements from the government and regulators indicate that Hong Kong is moving forward with enhancing its virtual asset regulatory and legal regime.
The Hong Kong government and the Securities and Futures...more
On 24 June 2022, the Hong Kong government published in the Gazette the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022 (Amendment Bill). The Amendment Bill proposes amendments to the Anti-Money...more
The SFC issued a statement to clarify its regulatory approach in relation to non-fungible tokens and remind investors of related risks.
On 6 June 2022, the Hong Kong Securities and Futures Commission (SFC) issued a...more
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
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
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
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
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
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
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