Hong Kong

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    Capital / Liquidity

    HK LegCo Reviews Legislation to Implement RBC Regime for Insurers

    By Editors | 22/03/2024

    The legislation covers revised qualifications for actuaries and the fees and levies payable to the IA. The new regime will commence from 1 July 2024.

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    Hong Kong to Raise Bank Licence Fees Nearly 30%

    By Manesh Samtani | 22/03/2024

    An HKMA review concluded that the proposed increase in fees should be “manageable” for affected financial institutions.

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    ESG / Sustainability

    Hong Kong Progresses Work to Expand Green Bond Programme

    By Manesh Samtani | 21/03/2024

    A new Infrastructure Bond Programme will be established and the Government Green Bond Scheme will be expanded and renamed to cover sustainable projects.

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    AML / KYC

    Top HK Official Addresses Frozen Remittances in Mainland China

    By Editors | 21/03/2024

    94 of 161 cases of frozen remittances from 2023 have been resolved as a result of the Customs and Excise Department’s intervention and bilateral negotiation.

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    Fintech / Regtech

    HSBC Offers Boost to Hong Kong Fintech Ecosystem

    By Sanday Chongo Kabange | 21/03/2024

    The Hong Kong Science and Technology Parks Corporation has signed a three-year strategic partnership with HSBC.

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    Enforcement

    HK Court Jails Retail Trader for Fraud Involving Naked Short Selling

    By Sanday Chongo Kabange | 21/03/2024

    In the first case of securities fraud involving illegal short selling in Hong Kong, a retail trader was sentenced to 18 months imprisonment.

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    Crypto / Digital Assets

    Hong Kong: Prototype Created to Issue Electronic Bills of Lading

    By Manesh Samtani | 21/03/2024

    The eBL prototype, developed by GSBN and Ant Group,  is being used in the HKMA’s wholesale CBDC sandbox project.

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    Hong Kong LegCo Passes New National Security Law

    By Editors | 20/03/2024

    Lawmakers say the law was necessary to protect Hong Kong’s status as an international hub. Critics express concern that it could be used to erode civil liberties.

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    Securities / Derivatives

    HKEX: Self-Match Prevention Service for Securities Set for Launch

    By Sanday Chongo Kabange | 20/03/2024

    From 2 April, HKEX’s new SMP service for the securities market will open for applications by exchange participants.

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    Hong Kong’s New eMPF Platform to Launch in June

    By Sanday Chongo Kabange | 20/03/2024

    The MPFA says all 12 MPF trustees in Hong Kong will start migrating data to the new eMPF platform in phases starting from June this year.

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