Hong Kong

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    Enforcement

    HK AFRC: Claims Against PwC Not Supported by Evidence

    By Editors | 11/07/2024

    The AFRC said the evidence it gathered does not support three whistleblower allegations made in April against PwC.

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    Crypto / Digital Assets

    Futu Securities Granted Approval to Offer Crypto in Hong Kong

    By Editors | 11/07/2024

    A licence upgrade allows Futu Securities to provide virtual asset dealing services to retail and professional investors in Hong Kong.

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    Fintech / Regtech

    Navigating Hong Kong PCPD’s Model AI Framework

    By Albert Yuen | 09/07/2024

    Albert Yuen and Jasmine Yung at Linklaters discuss the Model AI Framework and its implications for the financial services sector.

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    Enforcement

    HK Financial Consultant Pleads Guilty in ICAC Fraud Case

    By Sanday Chongo Kabange | 09/07/2024

    The consultant pleaded guilty in an investment fraud case that also involves three former StanChart relationship managers.

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    Capital / Liquidity

    Hong Kong Passes Bill to Raise Depositor Protection Limit

    By Sanday Chongo Kabange | 09/07/2024

    The bill will raise the protection limit from the current HKD 500,000 to HKD 800,000, effective on 1 October 2024.

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    Securities / Derivatives

    China to Allow CGBs as Collateral for Swap Connect

    By Manesh Samtani | 09/07/2024

    OTC Clear plans to start accepting China Government Bonds and Policy Financial Bonds as collateral for Swap Connect by year end.

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    Fintech / Regtech

    SFC to Introduce New Investment Product Authorisation Platform

    By Sanday Chongo Kabange | 09/07/2024

    The new e-IP system will allow users to digitally submit new product applications and post-authorisation or registration submissions.

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    Enforcement

    MPFA Fines HSBC for Non-compliant Referral Programme

    By Sanday Chongo Kabange | 09/07/2024

    HSBC recruited and offered incentives to unregistered persons to refer corporate clients to the bank for MPF business.

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    Fintech / Regtech

    HKMA, IA Launch Open API Framework Linkage

    By Sanday Chongo Kabange | 08/07/2024

    The new linkage seeks to enhance the mutual adoption of APIs for use cases across the banking and insurance sectors.

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    AML / KYC

    HKMA Fines DBS for Historical AML Deficiencies

    By Sanday Chongo Kabange | 08/07/2024

    HKMA investigation found deficiencies in the bank’s systems and controls for compliance with the AMLO.

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