Hong Kong Monetary Authority

Securities / Derivatives

Eight SPACs Have Filed IPO Applications in Hong Kong

By Sanday Chongo Kabange | 02/03/2022

The first applicant, backed by CMB International, has been approved. The latest applicant is a SPAC majority owned by ex-HKMA chief Norman Chan.

Securities / Derivatives

SFC’s New Rules on Bookbuilding & Placing Activities: What to Know

By Alan Linning | 02/03/2022

Alan Linning and Susanne Harris explain the new requirements and offer guidance on next steps for intermediaries to prepare for compliance by August.

Enforcement

SFC Permanently Bans Ex-HSBC Employee Over Bribery Convictions

By Editors | 02/03/2022

The former vice president accepted gifts as inducements to handle credit applications and maintain the credit facilities for two companies controlled by a client.

Securities / Derivatives

SFC, HKMA Launch Joint Review of Investment Product Selling Practices

By Editors | 02/03/2022

The review’s objectives are to assess intermediaries’ compliance with requirements to perform product due diligence, conduct suitability assessments and provide information to clients.

AML / KYC

The SFC Approach to Virtual Assets Prioritises Investor Protection

By Manesh Samtani | 28/02/2022

Since 2018, the steps taken by the SFC to regulate the virtual asset space have prioritised investor protection, first and foremost.

Market Infrastructure

HK Budget Includes More Borrower Relief, Capital Market Reforms

By Manesh Samtani | 23/02/2022

Finance Secretary Paul Chan announced measures to further reform Hong Kong’s listing rules, promote the bond market, and introduce yuan share trading in the city.

Securities / Derivatives

SFC Confirms Plans to Regulate Fund Trustees, Custodians

By Manesh Samtani | 23/02/2022

A new regulated activity (RA 13) will be introduced which will subject trustees and custodians of public funds to licensing requirements and ongoing regulatory supervision.

Fintech / Regtech

HKMA, PBOC Invite Firms to Test Fintech Initiatives Across GBA

By Editors | 21/02/2022

The objective of the link is to provide a “one-stop platform” to allow FIs and technology firms to pilot test their cross-boundary fintech initiatives, concurrently in Hong Kong and GBA cities.

ESG / Sustainability

Interconnected Data: A Strategic Approach to Regulatory Compliance

By Bradley Foster | 14/02/2022

Bradley Foster and Murat Bozdemir discuss the need to have a strategic data framework in place to ensure regulatory compliance and set out operational best practices for the road ahead.