Hong Kong

Enforcement

Hong Kong ICAC Charges Former Senior Official of Insurance Authority

By Sanday Chongo Kabange | 13/03/2024

The former IA executive director threatened Prudential with the use of supervisory powers if it did not hire her daughter-in-law and give her a bigger salary package.

Market Infrastructure

SFC Chairman Proposes Adjustment to Stock Connect Threshold

By Editors | 11/03/2024

SFC Chairman Tim Lui has asked mainland policymakers to lower the minimum asset requirement for mainlanders to invest in Hong Kong via Stock Connect.

Hong Kong to Pass New National Security Law in April

By Editors | 09/03/2024

The law includes sentences of up to life imprisonment for treason, insurrection and sabotage, and 10 years for crimes linked to state secrets.

Crypto / Digital Assets

HKMA Commences wCBDC Project to Drive Tokenisation

By Editors | 07/03/2024

Project Ensemble could help to forge new financial market infrastructure that can bridge tokenised assets and money in transactions, the HKMA said.

Sanctions

OFAC Sanctions Two More Vessels for Supporting Houthis

By Editors | 07/03/2024

The sanctions also target Hong Kong-based and Marshall Islands-based companies, which own the two vessels.

Capital / Liquidity

HK Banks Stop Offering Mortgage Loans for Speculation

By Editors | 07/03/2024

Many banks have stopped providing mortgages for confirmor transactions, due to signs that speculative interest is reemerging in the property market.

Crypto / Digital Assets

BIS Innovation Hub to Explore ‘Privacy by Design’ for CBDC

By Manesh Samtani | 07/03/2024

The BIS Innovation Hub and HKMA have launched Aurum 2.0, a project focused on building privacy features into CBDC systems.

Crypto / Digital Assets

Hong Kong: More Clarity Needed on Proposed OTC Crypto Regime

By Nithya Subramanian | 07/03/2024

Clarity is needed on the scope of activities captured by the regime, how stablecoins will fit into the regime, and how professional investors will be treated.

Enforcement

SFC, HKEX Jointly Take Action Against GEM-Listed Firm

By Sanday Chongo Kabange | 06/03/2024

Two former directors misappropriated assets by paying an IPO consultant who subsequently rerouted the funds back to the directors.