Hong Kong

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    AML / KYC

    SFC Issues Fresh Warning Against Unlicensed Crypto Firm MEXC

    By Sanday Chongo Kabange | 18/03/2024

    This is the second warning the SFC has issued against MEXC. Regulators in Korea, Japan, India and Germany have also warned against MEXC.

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    Capital / Liquidity

    HKMA Finalises Rules on Market Risk, CVA Risk Capital

    By Editors | 18/03/2024

    The HKMA said the revised market risk and CVA risk capital frameworks will come into effect “on a day to be appointed”, but intended to be 1 January 2025.

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    Enforcement

    Hong Kong ICAC Charges CCB Banker for Taking Bribes

    By Sanday Chongo Kabange | 17/03/2024

    A former CCB Asia sales executive was charged for taking bribes to expedite the account opening process for six clients.

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    Capital / Liquidity

    SME Finance Guarantee Scheme Was a Success: HKMA Study

    By Manesh Samtani | 15/03/2024

    The study used granular corporate loan data and a deep neural network model to analyse the effectiveness of the SFGS in facilitating access to credit for SMEs.

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    Market Infrastructure

    Hong Kong Considers Scaling Back Severe Weather Trading Plans

    By Sanday Chongo Kabange | 15/03/2024

    Hong Kong is reportedly considering whether to still keep local markets closed during the most severe weather events to help smaller firms continue operations.

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    Fintech / Regtech

    HKMA Launches Second Phase of e-HKD Testing

    By Sanday Chongo Kabange | 15/03/2024

    Phase 2 will focus on programmability, tokenisation and atomic settlement, leveraging the ‘Project Ensemble’ sandbox.

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    ESG / Sustainability

    BIS Project to Address Scarcity of Scope 3 Data

    By Manesh Samtani | 15/03/2024

    Project Symbiosis aims to address the lack of comprehensive emissions data from SMEs that are part of larger supply chains.

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    Crypto / Digital Assets

    SFC Issues Warning Against Crypto Products from Bybit

    By Sanday Chongo Kabange | 15/03/2024

    The warning refers to the Seychelles company Bybit Fintech Limited, and not the HK-incorporated Spark Fintech Limited, which has applied for an SFC licence.

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    AML / KYC

    Use of AI for AML Could Lower Effectiveness: Report

    By Bradley Maclean | 14/03/2024

    A new report from NICE Actimize and Regulation Asia sheds light on APAC’s use of technology to fight financial crime.

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    AML / KYC

    HKMA to Establish Regulatory Sandbox for Stablecoin Issuers

    By Sanday Chongo Kabange | 13/03/2024

    The HKMA will use the sandbox to communicate supervisory expectations and guidance on the issuance of fiat-referenced stablecoins in Hong Kong.

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