Hong Kong

Enforcement

Hong Kong AFRC Probing Whistleblower Allegations Against PwC

By Editors | 22/04/2024

The probe was prompted by an anonymous “whistle-blower report” circulating in the media which PwC says contains “inaccurate statements and false allegations”.

Market Infrastructure

CSRC Announces New Measures to Enhance Stock Connect

By Manesh Samtani | 21/04/2024

The measures include relaxed ETF eligibility criteria, inclusion of REITs and RMB-denominated HK stocks, and more support for Mainland listings in HK.

Market Infrastructure

SFC, HKMA Find Deficient Practices in Investment Product Sales

By Manesh Samtani | 19/04/2024

A thematic review highlighted issues with product due diligence methodologies and a lack of understanding of certain structured products.

Market Infrastructure

HKAB Sets Launch Date for New Credit Reference Platform

By Sanday Chongo Kabange | 19/04/2024

The new credit reference platform, known as ‘Credit Data Smart’, will start service on 26 April. Three CRAs are contributing data.

Market Infrastructure

HKEX to Develop New Derivatives Platform In-House

By Sanday Chongo Kabange | 19/04/2024

The Orion Derivatives Platform will offer enhanced trading and clearing capabilities and the potential for near 24-hour trading.

AML / KYC

HKMA Offers New Guidance on Transaction Monitoring

By Manesh Samtani | 17/04/2024

The guidance is based on a thematic review of TM systems, which also explored how FIs adopt artificial intelligence to optimise performance.

Crypto / Digital Assets

HKMA Issues Risk Management Guidance for DLT Adoption

By Sanday Chongo Kabange | 17/04/2024

The guidance covers DLT network and smart contract design and governance, the associated risks, and the need for interoperability.

Enforcement

SFC Orders Trading Suspension of Listed Fruit Products Seller

By Editors | 16/04/2024

The company was earlier ordered to reconstitute its board of directors and engage an independent manager over more than $60m in missing funds.

Securities / Derivatives

HKEX Confirms Decision to Allow Issuers to Hold Treasury Shares

By Manesh Samtani | 16/04/2024

Allowing Hong Kong-incorporated issuers to hold treasury shares will give them “greater flexibility in managing their capital structure”.