Hong Kong

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    Consumers Still First Line of Defence Against Fraud

    By Karen Ng | 07/06/2023

    Fraudulent websites are causing chaos. Banks and regulators have taken on a parenting role to stop consumers from falling prey to scammers.

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    Capital / Liquidity

    SFC Imposes Lifetime Ban on Director of Licensed Firms

    By Sanday Chongo Kabange | 07/06/2023

    A director for two licensed firms was banned for life over failures to maintain sufficient liquid capital, and for lying to the SFC.

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    Market Infrastructure

    HKEX Permits 21 Firms to List RMB Share Counters

    By Sanday Chongo Kabange | 07/06/2023

    Nine market markers are permitted to conduct market making or liquidity providing activities in dual counter securities starting 19 June.

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    Enforcement

    HK PCPD Calls For Regulation of Credit Database Providers

    By Ranamita Chakraborty | 07/06/2023

    The PCPD discovered in an investigation that the operator of the TE Credit Reference System put in place deficient security measures.

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    Fintech / Regtech

    Stanchart, PwC Examine CBDC Opportunities in GBA

    By Sanday Chongo Kabange | 06/06/2023

    The paper says the GBA is an ideal launch pad for CBDC pilots given its use of three different currencies and monetary authorities.

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    Crypto / Digital Assets

    Hong Kong Firms Launch Virtual Asset Rating Agency

    By Editors | 06/06/2023

    The Hong Kong Virtual Assets Consortium will provide a ratings service for crypto asset exchanges and exchange-traded products.

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    Fintech / Regtech

    SFC Chief Calls for Strong AI Governance at Licensed Firms

    By Ranamita Chakraborty | 06/06/2023

    The SFC will hold licensed firms responsible for conduct breaches involving AI, Julia Leung said at an HKIFA conference.

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    Securities / Derivatives

    Changes to Position Limit Regime to Take Effect in December: SFC

    By Manesh Samtani | 06/06/2023

    Asset managers will have primary responsibility for position limit compliance and reporting obligations at the individual fund or sub-fund level.

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    Fintech / Regtech

    InvestHK Launches 2023 Fintech Fast Track Programme

    By Sanday Chongo Kabange | 05/06/2023

    13 finalists from fintech, AI and Web3 scaleups will be selected to pitch in person at Hong Kong FinTech Week 2023.

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    AML / KYC

    SFC Issues Guidance on Crypto Licensing Transitional Arrangements

    By Manesh Samtani | 05/06/2023

    Crypto firms with “meaningful and substantial presence” in Hong Kong prior to 1 June 2023 can continue to provide services.

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