HONG KONG

AML / KYC

HKMA Announces Two New Anti-Scam Measures for Banks

By Sanday Chongo Kabange | 04/12/2024

“Money Safe” will allow customers to segregate a portion of their deposits and protect it from fund outflows, similar to Singapore’s “Money Lock”.

Market Infrastructure

HKEX Advancing Work to Add Repo, CDS to Swap Connect

By Georgina Lee | 03/12/2024

HKEX’s Jacky Mak said the exchange operator is working to expand the scope of Swap Connect to include cross-border repo contracts and credit default swaps.

Capital / Liquidity

HKMA Revises Guideline for Bank on Capital Adequacy Regime

By Editors | 03/12/2024

The revised SPM module incorporates changes to align with the Basel III final reforms which take effect from 1 January 2025.

Crypto / Digital Assets

Hong Kong Circulates Tax Break Proposal for Hedge Funds, Family Offices

By Nithya Subramanian | 03/12/2024

The proposal will expand the tax exemptions for PE funds, hedge funds and family offices to cover gains from virtual assets, carbon credits, and other asset classes.

Market Infrastructure

HKMA Issues New Statutory Guideline on Cyber Risk Management

By Manesh Samtani | 03/12/2024

The SPM module articulates the HKMA’s policy, overarching principles, and supervisory approach on banks for managing cyber risks.

ESG / Sustainability

Deadline Looms for Hong Kong-Listed Firms to Get Women on Board

By Mark Johnston | 02/12/2024

With an end-December deadline looming, 250 Hong Kong-listed companies are under pressure to appoint at least one woman to their boards.

HKEX Announces Retirement of Key Executive Wilfred Yiu

By Sanday Chongo Kabange | 02/12/2024

Wilfred Yiu oversaw the implementation of the Connect programme expansion, ETF reforms, derivatives holiday trading, dual counter model, and severe weather trading.

Enforcement

ICAC Charges Former SFC Manager for Sharing Confidential Information

By Sanday Chongo Kabange | 02/12/2024

The former SFC manager shared confidential information about a 2023 rights issue to personal friends who used it to make HK$11mn in trading profit.

ESG / Sustainability

Five Firms Adopt HK’s Code for ESG Ratings & Data Providers

By Sanday Chongo Kabange | 02/12/2024

Bloomberg, CDP, MioTech, Moody’s, and MSCI ESG Research LLC have signed up to adopt the new code of conduct for ESG ratings and data products providers.