Hong Kong

Enforcement

SFC Suspends Former Yuanta Securities Licensee for 26 Months

By Mark Johnston | 22/11/2024

The former licensee had a secret profit-sharing agreement with a client, failed to disclose personal dealings, and made false representations to the SFC.

Market Infrastructure

HKEX, HSIL Launch New Index Focused on Stock Connect

By Sanday Chongo Kabange | 19/11/2024

The ‘Stock Connect China Enterprises Index’, or SCCEA, will track the largest Chinese companies under the Stock Connect scheme.

Fintech / Regtech

HKMA Asks Merchant Acquiring Banks to Promote Mobile POS

By Sanday Chongo Kabange | 19/11/2024

Banks are asked to promote adoption of mobile POS terminals by merchants to help expand coverage “as far as practicable”.

Crypto / Digital Assets

HKEX Goes Live With New Virtual Asset Index Series

By Sanday Chongo Kabange | 18/11/2024

The HKEX Virtual Asset Index Series consists of a reference index and reference rate for both Bitcoin and Ether.

Capital / Liquidity

HKMA Codifies Regulatory Expectations on Money Brokers

By Sanday Chongo Kabange | 18/11/2024

New SPM module codifies existing requirements and standards for approved money brokers and elaborates on HKMA’s supervisory process.

Crypto / Digital Assets

HKMA Warns Crypto Firms Against Misusing “Bank” Label

By Sanday Chongo Kabange | 18/11/2024

The HKMA says misuse of the label “bank” by unlicensed crypto firms may constitute a contravention of the Banking Ordinance.

Fintech / Regtech

APAC Regulatory Environment for GenAI Needs to Remain Flexible

By Eugene Goyne | 15/11/2024

As the use cases for GenAI in the financial sector grow, regulators will play a critical role in how GenAI applications are shaped and brought to market.

Securities / Derivatives

HKEX Successfully Completes First Severe Weather Trading Day

By Sanday Chongo Kabange | 15/11/2024

HKEX confirmed that all trading, settlement and clearing operations in its securities and derivatives markets functioned normally.

Enforcement

SFC Commences Additional MMT Proceedings in Ding Yi Feng Case

By Sanday Chongo Kabange | 15/11/2024

Proceedings commenced in March involve manipulation that occurred between March and September 2018. The new proceedings involve manipulation from between October 2018 and March 2019.