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Crypto / Digital Assets
Hong Kong SFC Issues Warning on NFT-related Risks
By Editors | 06/06/2022
Some NFTs have ‘crossed the boundary’ between a collectible and a financial asset, which would bring them under the SFC’s remit and require licensing.
HSBC, Hang Seng Suffer Internet Banking, ATM Disruption
By Editors | 06/06/2022
Finance sector legislator Chan Chun-ying said he expects the HKMA to demand detailed reports on the incident from the two banks.
Fintech / Regtech
HKMA to Consult on BNPL Protections in ‘Coming Months’
By Sanday Chongo Kabange | 04/06/2022
Hong Kong official Christopher Hui says regulations for banks and money lenders on providing unsecured credit already cover BNPL services.
Securities / Derivatives
HKEX to Revise Position Limits for Single Stock Options, Futures
By Editors | 02/06/2022
HKEX also proposes to remove the additional position limits that apply to mini-HSI and mini-HSCEI futures and options contracts.
Market Infrastructure
HK Banks Given Four Years to Achieve Operational Resilience
By Manesh Samtani | 01/06/2022
The HKMA has given banks one year to develop their operational resilience framework, and a further three years for implementation.
Market Infrastructure
CSRC, SFC Outline Plans to Include ETFs in Stock Connect
By Manesh Samtani | 30/05/2022
Preparation for formal implementation will take about two months. ETF eligibility criteria have been published by HKEX, SSE and SZSE for consultation.
Securities / Derivatives
HKMA Directs Banks to Comply with New Rules for Trust Business
By Editors | 29/05/2022
Banks and their subsidiaries have until 1 June 2023 to comply with new regulatory requirements for their trust business and related activities.
Market Infrastructure
HKEX to Launch New IPO Settlement Platform in June 2023
By Editors | 29/05/2022
HKEX will host technical workshops and demonstration sessions in the coming months, and commence FINI user registration and on-boarding in Q4 2022.
Market Infrastructure
Hong Kong, US to End Mutual Recognition of Accountants
By Editors | 29/05/2022
An agreement could not be reached about a requirement for US accountants to have one year of local experience to practise in Hong Kong.
HKMA Publishes Findings from Front Office Incentives Review
By Editors | 26/05/2022
Some incentive systems used in retail banks’ front offices may unintentionally push staff to prioritise business objectives over customer outcomes.
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