Hong Kong

    Fintech / Regtech

    China to Roll Out New SME Credit Assessment, Data Flow Models

    By Editors | 25/07/2025

    Multi-agency notice details a nationwide SME credit platform and new mechanisms for cross-border data transfer in key pilot zones.

    Enforcement

    US PCAOB Revokes Hong Kong Audit Firm's Registration

    By Manesh Samtani | 24/07/2025

    Centurion ZD CPA & Co. and its owner have been permanently barred after the PCAOB found major violations in the 2021 audit of Luckin Coffee.

    Enforcement

    Hong Kong SFC Secures Compensation for Clients of Fraudulent Brokerage

    By Sanday Chongo Kabange | 24/07/2025

    The SFC says court-appointed administrators have distributed assets to clients of Hong Kong Wan Kiu Investment.

    Crypto / Digital Assets

    HKMA Warns of 'Frothiness' in Stablecoin Market, Signals Strict AML Rules

    By Sanday Chongo Kabange | 24/07/2025

    The HKMA will grant only a handful of stablecoin issuer licences initially and impose stringent AML rules amid concerns over market speculation.

    Enforcement

    HKMA Fines Four FIs HKD 17.8M for AML and CDD Failures

    By Sanday Chongo Kabange | 23/07/2025

    The HKMA has penalised three banks and a stored value facility licensee for AML/CFT control deficiencies.

    Market Infrastructure

    LSEG Explores 24-Hour Trading, Prompting Debate in Hong Kong

    By Manesh Samtani | 22/07/2025

    The move is a response to rising demand from retail investors and follows similar initiatives by US exchanges, prompting debate in other financial centres.

    Crypto / Digital Assets

    HKMA to Adopt Invitation Only System for Stablecoin Licensing - Report

    By Sanday Chongo Kabange | 22/07/2025

    The HKMA will reportedly only issue an application form after a potential applicant has been pre-screened and gained "basic recognition" during initial vetting.

    Enforcement

    Hong Kong Court Bans Former First Credit Director for Seven Years

    By Sanday Chongo Kabange | 22/07/2025

    The SFC secured the order for breaches involving an undisclosed de facto director and misleading fundraising announcements

    Fintech / Regtech

    Hong Kong Privacy Watchdog Probes Louis Vuitton Data Breach

    By Manesh Samtani | 21/07/2025

    The investigation follows the luxury brand's disclosure of a multi-country cyberattack that compromised the personal data of customers across Asia.

    Capital / Liquidity

    HKMA Issues Updated Guidance on IRB Model Validation

    By Sanday Chongo Kabange | 21/07/2025

    The updated guidance introduces stricter requirements on data architecture, conceptual model soundness, group-wide systems, and the use of external benchmarks

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