On 27 December 2023, the Hong Kong Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) jointly issued a consultation paper (the Consultation) proposing regulatory regime for...more
Hong Kong regulators recently brought criminal enforcement actions against virtual asset trading platform JPEX and individuals associated with the platform. This case has become the first opportunity for local authorities to...more
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
To prepare for commencement of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance regime for virtual asset service providers, the Hong Kong Securities and Futures Commission is conducting a consultation on...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
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
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
The Hong Kong Securities and Futures Commission ( SFC) has observed that the use of external electronic data storage providers (EDSPs), including public and private cloud storage, by licensed corporations (LCs) has become...more
The Hong Kong Financial Secretary announced in his 2019-20 Budget speech that the government was seeking to establish a limited partnership regime for funds (LPF), in order to facilitate industry development while maintaining...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
The Hong Kong Securities and Futures Commission (SFC) has issued its largest fine ever for violations of anti-money laundering (AML) and counter-terrorist financing (CFT) regulatory requirements....more
Former MF Global CEO Claims CFTC Charges Against Him Are Meritless. Jon Corzine, former chief executive officer of MF Global Inc. (MFG), objected to a proposed motion for summary judgment to be filed by the Division of...more