Hong Kong

Enforcement

HK Court Convicts Ex-Sunway Employee for Money Laundering

By Sanday Chongo Kabange | 06/08/2024

The former PA helped his boss to launder HK$125mn that was unlawfully obtained through loans from HK-listed Sunway Intl Hldgs.

Capital / Liquidity

HKMA Confirms Plans to Simplify Three-Tier Banking System

By Manesh Samtani | 06/08/2024

Deposit-taking companies will have a five-year transition period to meet a HK$100mn capital requirement, compared to HK$25mn.

Fintech / Regtech

PBOC, HKMA Sign Cooperation Framework for Payments Linkage

By Editors | 04/08/2024

The cooperation framework will enable the Chinese and Hong Kong authorities to link their fast payment systems.

Securities / Derivatives

Stock Connect: 2nd Phase of Market Data Changes Set to Take Effect

By Manesh Samtani | 03/08/2024

Investors participating in Stock Connect from Hong Kong will no longer be able to calculate net flows at the end of each trading day.

Crypto / Digital Assets

Futu Launches Crypto Services for Hong Kong Retail Investors

By Editors | 03/08/2024

Futu Securities International is the first online broker in Hong Kong to offer crypto trading services to retail investors.

AML / KYC

HK Banks Extend Fraud Alerting Service to Counter Transactions

By Editors | 02/08/2024

HKMA said customers will receive fraud risk alerts regardless of whether a transfer is conducted at a branch or through online channels.

Sanctions

OFAC Sanctions More Houthi Procurement Facilitators

By Editors | 02/08/2024

The sanctions target “key actors” located in China, Hong Kong, and Yemen who have “directly supported” the Houthis’ weapons procurement efforts.

ESG / Sustainability

Gold Standard Carbon Credits Debut on HKEX Carbon Marketplace

By Editors | 02/08/2024

Gold Standard’s Verified Emission Reductions can now be traded on the Core Climate platform. Trading fees are waived until further notice

Market Infrastructure

Hong Kong IA to Start Charging Fees from September

By Sanday Chongo Kabange | 02/08/2024

The Insurance Authority has not charged licensing and related fees since it assumed supervisory responsibilities in 2019.