Hong Kong

Capital / Liquidity

HK LegCo Reviews Legislation to Implement RBC Regime for Insurers

By Editors | 22/03/2024

The legislation covers revised qualifications for actuaries and the fees and levies payable to the IA. The new regime will commence from 1 July 2024.

Hong Kong to Raise Bank Licence Fees Nearly 30%

By Manesh Samtani | 22/03/2024

An HKMA review concluded that the proposed increase in fees should be “manageable” for affected financial institutions.

ESG / Sustainability

Hong Kong Progresses Work to Expand Green Bond Programme

By Manesh Samtani | 21/03/2024

A new Infrastructure Bond Programme will be established and the Government Green Bond Scheme will be expanded and renamed to cover sustainable projects.

AML / KYC

Top HK Official Addresses Frozen Remittances in Mainland China

By Editors | 21/03/2024

94 of 161 cases of frozen remittances from 2023 have been resolved as a result of the Customs and Excise Department’s intervention and bilateral negotiation.

Fintech / Regtech

HSBC Offers Boost to Hong Kong Fintech Ecosystem

By Sanday Chongo Kabange | 21/03/2024

The Hong Kong Science and Technology Parks Corporation has signed a three-year strategic partnership with HSBC.

Enforcement

HK Court Jails Retail Trader for Fraud Involving Naked Short Selling

By Sanday Chongo Kabange | 21/03/2024

In the first case of securities fraud involving illegal short selling in Hong Kong, a retail trader was sentenced to 18 months imprisonment.

Crypto / Digital Assets

Hong Kong: Prototype Created to Issue Electronic Bills of Lading

By Manesh Samtani | 21/03/2024

The eBL prototype, developed by GSBN and Ant Group,  is being used in the HKMA’s wholesale CBDC sandbox project.

Hong Kong LegCo Passes New National Security Law

By Editors | 20/03/2024

Lawmakers say the law was necessary to protect Hong Kong’s status as an international hub. Critics express concern that it could be used to erode civil liberties.

Securities / Derivatives

HKEX: Self-Match Prevention Service for Securities Set for Launch

By Sanday Chongo Kabange | 20/03/2024

From 2 April, HKEX’s new SMP service for the securities market will open for applications by exchange participants.