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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
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.
Enforcement
SFC Disciplines Takeovers Code Breach with ‘Public Criticism’
By Editors | 30/10/2022
Gold Dragon Worldwide Asset Management failed to disclose trades in a stock during an offer period despite it controlling more than 5 percent of the stock.
Securities / Derivatives
HKMA Issues New Guidance on Investment Product Sales
By Editors | 24/10/2022
The new guidance covers investment product suitability, concentration risk assessments, and the sale of loss-absorption products.
AML / KYC
Hong Kong Seeks Status as Global Hub for Virtual Assets
By Manesh Samtani | 17/10/2022
A new policy statement to be issued at Hong Kong FinTech Week may spell out plans to include retail investors in the city’s VASP regime.
Enforcement
Hong Kong Court Convicts Former Fulbright Securities AE
By Editors | 17/10/2022
The former account executive, banned for life in 2017, pleaded guilty to employing a fraudulent scheme involving securities transactions in eight stocks.
Hong Kong Launches Sustainable Finance Internship Initiative
By Editors | 13/10/2022
A centralised repository has been launched offering information about green and sustainable finance internship openings offered by FIs and other companies.
Enforcement
SFC Fines Asset Manager Over European Rule Breaches
By Editors | 12/10/2022
ARCM failed to implement adequate systems and controls to monitor its short position and ensure it was properly reported and disclosed to the public.
Enforcement
HK Court Orders Founder to Buy Shares from Wronged Investors
By Editors | 07/10/2022
The order is the first made to require a listed company executive to buy shares held by other investors “at a price to be determined by the court”.
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