HONG KONG

Capital / Liquidity

HKMA Shares Good Practices to Support Basel III Implementation

By Manesh Samtani | 22/11/2024

The HKMA encourages banks to maintain their momentum as the 1 January 2025 implementation date for certain aspects of Basel III approaches.

Enforcement

SFC Suspends Former Yuanta Securities Licensee for 26 Months

By Mark Johnston | 22/11/2024

The former licensee had a secret profit-sharing agreement with a client, failed to disclose personal dealings, and made false representations to the SFC.

Market Infrastructure

HKEX, HSIL Launch New Index Focused on Stock Connect

By Sanday Chongo Kabange | 19/11/2024

The ‘Stock Connect China Enterprises Index’, or SCCEA, will track the largest Chinese companies under the Stock Connect scheme.

Fintech / Regtech

HKMA Asks Merchant Acquiring Banks to Promote Mobile POS

By Sanday Chongo Kabange | 19/11/2024

Banks are asked to promote adoption of mobile POS terminals by merchants to help expand coverage “as far as practicable”.

Crypto / Digital Assets

HKEX Goes Live With New Virtual Asset Index Series

By Sanday Chongo Kabange | 18/11/2024

The HKEX Virtual Asset Index Series consists of a reference index and reference rate for both Bitcoin and Ether.

Capital / Liquidity

HKMA Codifies Regulatory Expectations on Money Brokers

By Sanday Chongo Kabange | 18/11/2024

New SPM module codifies existing requirements and standards for approved money brokers and elaborates on HKMA’s supervisory process.

Crypto / Digital Assets

HKMA Warns Crypto Firms Against Misusing “Bank” Label

By Sanday Chongo Kabange | 18/11/2024

The HKMA says misuse of the label “bank” by unlicensed crypto firms may constitute a contravention of the Banking Ordinance.

Fintech / Regtech

APAC Regulatory Environment for GenAI Needs to Remain Flexible

By Eugene Goyne | 15/11/2024

As the use cases for GenAI in the financial sector grow, regulators will play a critical role in how GenAI applications are shaped and brought to market.

Securities / Derivatives

HKEX Successfully Completes First Severe Weather Trading Day

By Sanday Chongo Kabange | 15/11/2024

HKEX confirmed that all trading, settlement and clearing operations in its securities and derivatives markets functioned normally.