Hong Kong

HK Banks Offer ‘PAPT’ Option for Mortgage Refinance Transactions

By Editors | 08/11/2022

The PAPT is being introduced to address risks that could arise for residential mortgage customers if a law firm handling a transaction is suspended.

Market Infrastructure

ChinaClear Consults on Trading Calendar for Stock Connect

By Editors | 07/11/2022

Stock Connect will be able to trade on any day when both the Mainland and Hong Kong markets are open, even if the corresponding settlement day falls on a public holiday.

Market Infrastructure

Hong Kong, Macau Enable Real-time Payments Between Banks

By Editors | 03/11/2022

Macau already has a local RTGS system for local payments denominated in HKD. The new system enables real-time settlement of HKD payments between Macau and Hong Kong banks.

Market Infrastructure

Hong Kong to Subject Foreign Investment Gains to Profits Tax

By Manesh Samtani | 02/11/2022

A new LegCo bill will require MNE entities in Hong Kong to pay profits tax on foreign equity disposals and dividend income, unless they are specifically exempted.

Securities / Derivatives

HKEX to Amend Cash Market Trading Fee Structure

By Editors | 01/11/2022

The enhancements will result in a simpler and more predictable cash market trading fee structure, HKEX said.

Crypto / Digital Assets

SFC Considers Allowing Retail Access to Crypto, Starting with ETFs

By Manesh Samtani | 01/11/2022

ETFs with crypto exposure through CME-listed BTC and ETH futures can be distributed to Hong Kong retail clients. The “professional investor only” requirement is under review.

ESG / Sustainability

Hong Kong Invites Firms to Provide Training in Green Finance

By Editors | 01/11/2022

Providers of green and sustainable finance-related training are invited to register their programmes for a capacity building support scheme launching later this year.

ESG / Sustainability

SFDR Level 2 – Implications for SFC Authorised UCITS Funds

By Alwyn Li | 31/10/2022

Alwyn Li and Vincci Ip discuss pre-contractual disclosure requirements for SFDR Article 8 and Article 9 funds and the relevant regulatory requirements in Hong Kong.

Fintech / Regtech

Hong Kong FSTB Issues Policy Statement on Approach to Virtual Assets

By Manesh Samtani | 31/10/2022

The SFC will be consulting on how retail investors may be given a “suitable degree of access” to virtual assets under Hong Kong’s new licensing regime.