News & Analysis as of

Hong Kong Financial Services Industry

Mayer Brown

HKMA Enhanced Consumer Protection in the Use of GenAI by Authorized Institutions in Hong Kong

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The Hong Kong Monetary Authority (HKMA) has imposed additional principles on the use of big data analytics and artificial intelligence (BDAI) and specifically, generative artificial intelligence (GenAI) by authorized...more

Skadden, Arps, Slate, Meagher & Flom LLP

Are You Ready for a Hong Kong IPO?

With deep and liquid capital markets offering unique access to the Mainland China investor market, many international businesses are considering pursuing their IPOs in Hong Kong. This summary outlines key issues for companies...more

Conyers

Amendments to the GEM Listing Rules

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The Stock Exchange of Hong Kong Limited (the Exchange) implemented its reforms to the GEM Listing Rules on 1 January 2024. For companies currently listed on GEM, one of the key changes is a new streamlined transfer...more

Morrison & Foerster LLP

HKIAC’s 2023 Statistics Reinforce Hong Kong’s Appeal As An Arbitration Hub

On 6 March 2024, the Hong Kong International Arbitration Centre (HKIAC) released its annual statistics for 2023. The numbers reaffirm Hong Kong’s position as a highly attractive center for international arbitration. In...more

Mayer Brown

Hong Kong's New Capital Investment Entrant Scheme

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Introduced in the 2023-2024 Budget, the new and revamped Capital Investment Entrant Scheme (New CIES) aims at enriching the talent pool and attracting more new capital to Hong Kong. It is one of the eight policy measures...more

Latham & Watkins LLP

Hong Kong Monetary Authority Issues Guidance for Banks on Crypto Custody and Sale of Tokenised Products

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Regulator sets out its expectations for banks looking to provide digital asset custody services, and sell and distribute tokenised products. On 20 February 2024, the Hong Kong Monetary Authority (HKMA) published two...more

Latham & Watkins LLP

Hong Kong Consults on Proposed Regulations to Prudential Treatment of Cryptoasset Exposures

Latham & Watkins LLP on

Implementation of Basel Committee cryptoassets standard to provide additional clarity for banks looking to engage in cryptoassets business. On 7 February 2024, the Hong Kong Monetary Authority (HKMA) released a...more

Hogan Lovells

Hong Kong audit regulator reaches landmark agreement over mainland audit papers

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Hong Kong’s audit regulator, the Accounting and Financial Reporting Council (AFRC) says it has reached a landmark agreement to help it obtain audit working papers of Public Interest Entity (PIE) auditors located on the PRC...more

Mayer Brown

HKMA Rolls Out Standards for the Sale of Sustainable Investment Products

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The Hong Kong Monetary Authority (HKMA) recently announced in a circular its expected standards for the sale and distribution of green and sustainable investment products by registered institutions (RIs). This is to ensure...more

Cadwalader, Wickersham & Taft LLP

ICMA Working Group to Develop Voluntary Code of Conduct for Hong Kong ESG Ratings

On October 31, 2023, the International Capital Market Association (ICMA) announced that it would be forming a working group to develop a voluntary code of conduct for Hong Kong-based ESG ratings and data providers. ICMA will...more

Hogan Lovells

Ticking the boxes - Hong Kong accountants regulator highlights failings in professional training compliance

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The Accounting and Financial Reporting Council (AFRC) has published its 2023 Oversight Report on HKICPA's Performance of Specified Functions (the report). This is the first full year the AFRC has reported on the exercise of...more

Conyers

B2B, B2C, BVI – Crypto Disputes in the Caribbean

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In the crypto world, does it really matter where you are? Is there a sunny offshore paradise perspective on the click of a button and a fintech trade? The answer lies as usual in how to unravel a problem should it arise. Both...more

Cadwalader, Wickersham & Taft LLP

Hong Kong’s Central Banking Institution Directs Banks to Ramp Up Net Zero Transition Planning

The Hong Kong Monetary Authority (HKMA), Hong Kong’s de facto central banking institution, issued a directive for banks setting out high-level principles on planning for a transition to a net-zero economy. In a “Dear CEO”...more

K&L Gates LLP

The Dual Licensing Regime for Virtual Asset Trading Platforms in Hong Kong – Part 3

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In our previous alerts (Part I and Part II), we provided a brief overview of the new Dual Licensing Regime and highlighted some of the key aspects of the new regime, particularly those set out under the Guidelines for Virtual...more

A&O Shearman

Allen & Overy and Standard Chartered launch guide to payment regulations in Asia

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Allen & Overy and international banking group Standard Chartered have today launched the first Guide to Payment Regulations for corporates and fintech customers navigating the evolving payments landscape in eight key markets...more

Jones Day

Hong Kong's New Paperless Listing Regime

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In Short - The Situation: In the past few years, the Stock Exchange of Hong Kong Limited (the "Stock Exchange") has taken initiatives to introduce a paperless listing regime and make changes to documentary requirements. ...more

K&L Gates LLP

The Dual Licensing Regime for Virtual Asset Trading Platforms in Hong Kong: Key Highlights – Part 1

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The Hong Kong government is trying to support the growth of virtual asset and other Web3 industries. One of the first key steps they've taken is to put virtual asset trading platforms into a regulatory licensing regime where...more

Hogan Lovells

HK’s new listing regime for innovative science and technology companies effective from 31 Mar 2023

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Hong Kong Stock Exchange has launched a new listing regime for “Specialist Technology Companies” under Chapter 18C of the Listing Rules, effective from 31 March 2023. We provide a brief overview of the listing regime...more

Hogan Lovells

Hong Kong Corporate & Regulatory Insights – February 2023

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The Stock Exchange of Hong Kong Limited (SEHK) publishes Listed Issuer Regulation Newsletter - The SEHK published the Listed Issuer Regulation Newsletter (December 2022 edition) (Newsletter), to provide latest regulatory...more

Hogan Lovells

Hong Kong Corporate & Regulatory Insights – January 2023

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The Stock Exchange of Hong Kong (SEHK) takes disciplinary action against China Bright Culture Group (stock code: 109) and two current and former executive directors - Key message: • Newly-listed companies must keep...more

Hogan Lovells

Hong Kong Corporate & Regulatory Insights – October 2022

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The Stock Exchange of Hong Kong (SEHK) takes disciplinary action against Good Resources Holdings Limited (delisted) (previous stock code: 109) and its former director Key messages: • Listed companies must not use their...more

Conyers

BVI to Introduce the Virtual Assets Service Providers Act

Conyers on

The British Virgin Islands (“BVI”) is proposing to introduce virtual assets service provider (“VASP”) legislation and has recently circulated a draft bill in the form of the Virtual Assets Service Providers Act, 2022 (the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Hong Kong Regulatory Update - October 2022

This update provides an overview of key regulatory developments in the past three months relevant to companies listed or planning to list on The Stock Exchange of Hong Kong Limited (HKEx) and to their advisers. In particular,...more

Hogan Lovells

Hong Kong Corporate & Regulatory Insights – September 2022

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SEHK publishes updates on frequently asked questions (FAQs) The Stock Exchange of Hong Kong (SEHK) published the following updates on FAQs: • FAQ No. 102-2022 to 117-2022 on questions relating to Special Purpose...more

Hogan Lovells

Hong Kong Corporate & Regulatory Insights – August 2022

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The Stock Exchange of Hong Kong (SEHK) publishes new enforcement bulletin (August 2022 edition) (the Enforcement Bulletin) SEHK published the Enforcement Bulletin regarding the latest learnings and actions of its enforcement...more

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