Securities and Futures Commission

Securities / Derivatives

Hong Kong: New Regulatory Regime for Depositories to Start by 2025

By Editors | 06/02/2023

About 20 depositaries and 300 individuals will require licensing under RA 13, the new regulated activity for depositories of collective investment schemes.

Enforcement

SFC Fines Private Fund Adviser for Failing to Protect Investors’ Interest

By Editors | 31/01/2023

Cardinalasia Consulting and its responsible officer failed to ensure that the manager of the five private funds received appropriate advice.

Market Infrastructure

Exchanges Publish Draft Rules to Expand Stock Connect

By Editors | 20/01/2023

The draft rules cover changes to align the Mainland and Hong Kong’s trading calendars and expand the scope of stocks that can be traded via Stock Connect.

Crypto / Digital Assets

Samsung Asset Management Lists Hong Kong’s Third Crypto ETF

By Manesh Samtani | 16/01/2023

The ETF traded 92,550 units on its first day, compared to 1,435,800 units traded between CSOP’s two ETFs on their first day last month.

Crypto / Digital Assets

SFC Plans to Allow Retail Access to ‘Highly Liquid’ Crypto Assets

By Manesh Samtani | 12/01/2023

A consultation on retail trading will begin sometime in Q1. The SFC plans to start accepting applications for VASP licences in mid 2024.

Crypto / Digital Assets

HK Lawmaker Proposes to Use e-HKD as Stablecoin for DeFi

By Sanday Chongo Kabange | 11/01/2023

LegCo member Wu Jiezhuang says using the CBDC as a government-backed stablecoin will help address virtual asset risks and enhance trust in Web3.

Fintech / Regtech

Hong Kong Consults on Crowdfunding Regulatory Regime 

By Sanday Chongo Kabange | 03/01/2023

A Crowdfunding Affairs Office will be set up to centrally process and coordinate regulatory and administrative matters related to crowdfunding activities.

AML / KYC

SFC to Collect More Granular Data from Licenced Firms

By Manesh Samtani | 30/12/2022

Many of the new questions in the SFC’s updated BRMQ focus on AML/CFT practices and brokerage business controls.

Fintech / Regtech

SFC Calls Out Brokers for Slow Implementation of its Data Standards

By Manesh Samtani | 23/12/2022

Brokers are directed to assign one or more MICs to oversee the implementation of the Data Standards, which was meant to be completed in April 2021.