Hong Kong

AML / KYC

SFC Issues Fresh Warning Against Unlicensed Crypto Firm MEXC

By Sanday Chongo Kabange | 18/03/2024

This is the second warning the SFC has issued against MEXC. Regulators in Korea, Japan, India and Germany have also warned against MEXC.

Capital / Liquidity

HKMA Finalises Rules on Market Risk, CVA Risk Capital

By Editors | 18/03/2024

The HKMA said the revised market risk and CVA risk capital frameworks will come into effect “on a day to be appointed”, but intended to be 1 January 2025.

Enforcement

Hong Kong ICAC Charges CCB Banker for Taking Bribes

By Sanday Chongo Kabange | 17/03/2024

A former CCB Asia sales executive was charged for taking bribes to expedite the account opening process for six clients.

Capital / Liquidity

SME Finance Guarantee Scheme Was a Success: HKMA Study

By Manesh Samtani | 15/03/2024

The study used granular corporate loan data and a deep neural network model to analyse the effectiveness of the SFGS in facilitating access to credit for SMEs.

Market Infrastructure

Hong Kong Considers Scaling Back Severe Weather Trading Plans

By Sanday Chongo Kabange | 15/03/2024

Hong Kong is reportedly considering whether to still keep local markets closed during the most severe weather events to help smaller firms continue operations.

Fintech / Regtech

HKMA Launches Second Phase of e-HKD Testing

By Sanday Chongo Kabange | 15/03/2024

Phase 2 will focus on programmability, tokenisation and atomic settlement, leveraging the ‘Project Ensemble’ sandbox.

ESG / Sustainability

BIS Project to Address Scarcity of Scope 3 Data

By Manesh Samtani | 15/03/2024

Project Symbiosis aims to address the lack of comprehensive emissions data from SMEs that are part of larger supply chains.

Crypto / Digital Assets

SFC Issues Warning Against Crypto Products from Bybit

By Sanday Chongo Kabange | 15/03/2024

The warning refers to the Seychelles company Bybit Fintech Limited, and not the HK-incorporated Spark Fintech Limited, which has applied for an SFC licence.

AML / KYC

Use of AI for AML Could Lower Effectiveness: Report

By Bradley Maclean | 14/03/2024

A new report from NICE Actimize and Regulation Asia sheds light on APAC’s use of technology to fight financial crime.