HONG KONG

Market Infrastructure

Hong Kong Gazettes Bill for New Company Re-domiciliation Regime

By Editors | 29/12/2024

The Bill to introduce the new company re-domiciliation regime will be introduced into the LegCo for first reading on 8 January 2025.

AML / KYC

HKMA Directs Banks to Implement More Anti-Scam Measures

By Manesh Samtani | 28/12/2024

HKMA says banks should seek Police assistance and consider holding the transaction if they believe a customer is being scammed.

Enforcement

SFC Imposes Fine and Lifetime Ban Against Fund Manager

By Editors | 28/12/2024

The SFC said the former fund manager’s removal from the industry is “necessary to protect the investing public”.

Sanctions

US Extends Sanctions on HK Officials for Five More Years

By Editors | 27/12/2024

The Hong Kong government said the sanctions will ultimately harm the interests of the US and its companies.

Enforcement

AFRC Fines BDO and Two Partners for Audit Failures

By Editors | 27/12/2024

The AFRC said BDO’s history of non-compliance suggests a “tendency of repeated failures to comply with auditing and professional standards”.

ESG / Sustainability

HKEX Will Adopt Changes to Corporate Governance Code

By Manesh Samtani | 26/12/2024

HKEX will cap the number of board seats that INEDs can hold at six and limit the duration of their tenure to nine years.

HKMA Streamlines Audio-recording Requirement for Investment Sales

By Editors | 26/12/2024

HKMA circular covers the use of video conferencing and other digital tools to conduct investment transactions of retail banking customers.

Securities / Derivatives

Hong Kong and UAE to Connect Debt Capital Markets

By Editors | 24/12/2024

HKMA and CBUAE aim to “allow seamless and cost-effective cross-border debt securities issuance, trading, investment, settlement as well as collateral management.”

Securities / Derivatives

CSRC, SFC Finalise Enhancements to Funds Recognition Scheme

By Manesh Samtani | 23/12/2024

SFC’s Julia Leung said the enhancements will expand the business potential for asset managers and the diversity and scale of MRF products.