Financial Markets

PCPD Issues Guidance Note on Data Security Measures

PCPD Issues Guidance Note on Data Security Measures 1400 787 Charing Yu
With data breaches and compliance actions on the rise, the Office of the Privacy Commissioner for Personal Data issued new guidance on data security measures.

HKMA Discussion Paper on e-HKD

HKMA Discussion Paper on e-HKD 1400 935 Kelly Ho
The Hong Kong Monetary Authority recently published a discussion paper inviting views on key policy and design issues for introducing e-HKD.

Consultation on New Type 13 Regulated Activity

Consultation on New Type 13 Regulated Activity 1400 788 Charing Yu
In Feb 2022, SFC released its Consultation Conclusions on the Proposed Regulatory Regime for Depositaries of SFC-authorised Collective Investment Schemes.

SFC Bans Mr. Poon Chun Hing From Re-entering Industry for Life

SFC Bans Mr. Poon Chun Hing From Re-entering Industry for Life 1400 788 Charing Yu
Readers are reminded to be alert if approached with securities & futures investments or dealing with anyone claiming they are licensed / registered in Hong Kong

Joint Operation by Hong Kong & Singapore Regulators & Police on Cross Border Ramp-and-dump Syndicate

Joint Operation by Hong Kong & Singapore Regulators & Police on Cross Border Ramp-and-dump Syndicate 1400 787 Charing Yu
10 individuals, believed to be key members of the syndicate, including some senior executives of Hong Kong listed companies were arrested.

Insurance Authority Reprimands & Fines Insurer for Contraventions of AML & CTF Ordinances

Insurance Authority Reprimands & Fines Insurer for Contraventions of AML & CTF Ordinances 1400 788 Charing Yu
MetLife (now FWD Life) & Metropolitan Life Insurance (now FWD Life Assurance) fined HK$7 million. It is clear that the IA takes these failures very seriously.

High Court Finds “No Consent Regime” Unlawful

High Court Finds “No Consent Regime” Unlawful 1401 786 Kelly Ho
While the implications of this decision remain to be seen, victims of fraud are still recommended to make a police report in any event.

HKMA Releases Technical Whitepaper on Retail Central Bank Digital Currency

HKMA Releases Technical Whitepaper on Retail Central Bank Digital Currency 1400 788 Hauzen
With global trend of issuance of CBDC, HKMA released whitepaper exploring potential architecture and design options that could be applied to distributing e-HKD.

AML Regtech Lab “AMLab” launched in Hong Kong

AML Regtech Lab “AMLab” launched in Hong Kong 1400 788 Kelly Ho
Through AMLab, it is hoped that the general effectiveness and efficiency of the AML ecosystem in Hong Kong will be improved.  

New MOU to enhance fintech regulation in GBA

New MOU to enhance fintech regulation in GBA 1400 788 Kelly Ho
This new network link-up creates a one-stop platform for firms to conduct pilot trials of cross-boundary fintech initiatives in HK and GBA cities concurrently.
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