Hong Kong

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    Crypto / Digital Assets

    BIS Innovation Hub Unveils Findings from CBDC Project “Sela”

    By Editors | 13/09/2023

    The collaboration with HKMA and Bank of Israel demonstrated that retail CBDC can support access, cyber security and competition, while retaining cash features.

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    Enforcement

    SFC Revokes Fund Manager Licence, Suspends Manager-In-Charge

    By Sanday Chongo Kabange | 12/09/2023

    Axial Capital Management failed to maintain its required liquid capital for 19 straight months and to make various filings on time.

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    Fintech / Regtech

    HKMA, PBOC Enter Next Phase of e-CNY Technical Testing

    By Editors | 11/09/2023

    Hong Kong is expanding its technical testing to include more banks and testing the digital yuan wallet’s top-up function through FPS.

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    Sanctions

    HSBC to Halt Russia, Belarus Payments for Corporate Clients – Reports

    By Editors | 11/09/2023

    HSBC reportedly told customers that the sanctions and trade restrictions imposed on Russia and Belarus have made it “increasingly challenging” to operate.

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    Crypto / Digital Assets

    Hong Kong SFC Approves City’s First Real Estate STO

    By Editors | 11/09/2023

    Tykhe Capital Group will launch “Prince Token”, available only to professional investors. Subject to regulatory approval, the token will list on HKbitEX.

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    HKMA Sets Out Talent Management Expectations for Banks

    By Editors | 08/09/2023

    The latest HKMA circular provides guidance to help banks assess, maintain, and enhance the competence levels of their workforce and address talent shortages.

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    Securities / Derivatives

    HKEX Expands Global Footprint with New London Office

    By Editors | 08/09/2023

    The new London office together with a New York office opened in June give HKEX a presence in the world’s three major time zones.

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    Capital / Liquidity

    HK Investors Prepare Legal Action Over Credit Suisse AT1 Bonds

    By Sanday Chongo Kabange | 07/09/2023

    Hong Kong investors will claim the wipeout of Credit Suisse AT1 bonds was at odds with a bilateral investment treaty between Hong Kong and Switzerland.

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    Hong Kong Launches Loan Guarantee Scheme for Electric Taxis

    By Editors | 05/09/2023

    Fully guaranteed loans are being provided to taxi owners to encourage them to replace their LPG, petrol or hybrid taxis with electric taxis

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    HKMA Eases Audio-Record Requirement for PLP Sales

    By Editors | 01/09/2023

    Banks selling PLP products can adopt other post-sale controls instead of audio recording the entire selling process.

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