Hong Kong

Crypto / Digital Assets

Hong Kong: Going Digital Caused Scams to Rise 45.1% in 2022

By Karen Ng | 07/06/2023

Data compiled by law firm Freshfield Bruckhaus Deringer shows that Hong Kong deception cases grew 45.1 percent in 2022.

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.

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.

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.

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.

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.

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.

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.

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.