HONG KONG

Big Picture

Hong Kong FSDC Offers Ideas for Growing Insurance Industry

By Sanday Chongo Kabange | 03/04/2025

The FSDC offers recommendations to further develop Hong Kong’s insurance industry and cement the city’s position as a global insurance hub.

Hong Kong MPFA Consults on “Full Portability” Mechanism for Pensions

By Sanday Chongo Kabange | 03/04/2025

MPFA puts forward 2 proposals to implement “full portability”, which will allow employees freedom to transfer benefits accrued from employers’ contributions to a new provider of their choice.

Securities / Derivatives

SFC Adjusts Eligibility Criteria for OFC and REIT Grant Scheme

By Sanday Chongo Kabange | 03/04/2025

The scheme will still cover 70 percent of eligible expenses paid to Hong Kong-based service providers to set up OFCs and REITs, but the caps are lower.

Sanctions

US Sanctions China, Hong Kong Officials Over NSL Implementation

By Manesh Samtani | 02/04/2025

Six officials were sanctioned for engaging in “actions or policies that threaten to further erode the autonomy of Hong Kong”.

AFRC Sets Out Strategic Priorities for 2025-2027

By Sanday Chongo Kabange | 02/04/2025

AFRC’s three-year strategic plan considers rapid advancements in technology, especially relating to AI, and an increasing focus on sustainability.

AML / KYC

HKMA Seeking “System Reset” to Enhance Response to Financial Crime

By Manesh Samtani | 02/04/2025

HKMA to work with banks on AI adoption action plans, develop a payment data analytics solution, and support greater information sharing.

Fintech / Regtech

Hong Kong PCPD Issues Guidance on Employee Use of GenAI

By Sanday Chongo Kabange | 02/04/2025

The guidance is intended to help organisations in developing internal policies on the use of GenAI by employees to execute their responsibilities.

AML / KYC

Hong Kong Gazettes Bill to Facilitate Financial Crime Info-Sharing

By Sanday Chongo Kabange | 01/04/2025

The bill proposes to introduce a voluntary mechanism for AIs to share information through secure HKMA-designated platforms.

Fintech / Regtech

SFC Launches New AI Market Scanning Detection Model

By Sanday Chongo Kabange | 01/04/2025

The SFC is using AI-empowered analytics to identify red flags in listed companies early, so that issues can be addressed before they escalate.