Hong Kong

Fintech / Regtech

HKMA Assessing Whether Virtual Banks Have Achieved Policy Goals

By Editors | 17/07/2024

The HKMA is evaluating whether the eight virtual banks have achieved the intended policy objectives since the licences were granted in 2019.

Market Infrastructure

SFC to Implement New Paperless Securities Regime by End 2025

By Sanday Chongo Kabange | 17/07/2024

The SFC aims to implement the new regime towards the end of 2025, but give companies until end-2030 to transition.

Market Infrastructure

LegCo Progresses Work to Waive REIT Trading Stamp Duty

By Sanday Chongo Kabange | 17/07/2024

Legislative proposals will be introduced this year to waive stamp duty for REIT transactions and options market-making.

Securities / Derivatives

HKEX to Launch ID-based Self-Match Prevention Service on 22 July

By Editors | 16/07/2024

The new “ID-based SMP” service will be available in the derivatives market from 22 July. An optional connectivity test will be provided on 20 July.

Crypto / Digital Assets

Hong Kong to Release Stablecoin Consultation Results “Soon”

By Sanday Chongo Kabange | 16/07/2024

The FSTB said it will “soon” release the results of a 2023 consultation on the proposed regulatory regime for fiat-referenced stablecoins.

Market Infrastructure

HKEX Unveils List of Mainland ETFs Being Added to Stock Connect

By Manesh Samtani | 16/07/2024

Starting 22 July, 85 mainland-listed ETFs will be added to Northbound trading and 6 HK-listed ETFs will be added to Southbound trading.

EU Seeking to Prevent Sanctions Evasion via Vietnam, Malaysia

By Editors | 15/07/2024

EU sanctions envoy David O’Sullivan said China is a “growing problem” as a circumvention hub, but Vietnam and Malaysia are among the next priorities.

Enforcement

Hong Kong, China Collaborate to Probe PwC’s Evergrande Audit

By Nithya Subramanian | 15/07/2024

Under a 2019 agreement, China’s Ministry of Finance and Hong Kong’s AFRC can  provide assistance to each other in their investigations.

Securities / Derivatives

HKEX Lists First ETF Tracking China SOE Performance

By Editors | 12/07/2024

Hong Kong official Christopher Hui said ETF listing marks a new milestone for Hong Kong’s market.