Financial Services Regulatory Update 2022/12/23

  • Hong Kong Securities and Futures Commission Clarifies Virtual Asset Policy by Statement on Virtual Asset Arrangements Claiming to Offer Returns to Investors
  • Hong Kong Financial Services and the Treasury Bureau Publishes Consultation on Enhancing Regulation of Crowdfunding Activities
  • Hong Kong Securities and Futures Commission Announces the Launch of Investor Identification Regime in March 2023
  • Hong Kong Government Launches Pilot Green and Sustainable Finance Capacity Building Support Scheme
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Financial Services Regulatory Update 2022/11/25

  • Takeovers Executive of Hong Kong Securities and Futures Commission Publishes New Practice Note 24 on the Appointment of Receivers and Liquidators and When to Commence Offer Periods
  • The Eastern Magistrates’ Court of Hong Kong Sentenced Mr. Wong King Hoi to Imprisonment for Obstruction of the Search Operation of the Securities and Futures Commission – First Such Imprisonment Case in Hong Kong
  • The Securities and Futures Commission of Hong Kong Publicly Criticizes Gold Dragon Worldwide Asset Management Limited for Breaches of Takeovers Code
  • The Securities and Futures Commission of Hong Kong Reprimands and Fines Swiss-Asia Asset Management (HK) Limited HK$3 Million for Internal Control Failings and Regulatory Breaches
  • The Stock Exchange of Hong Kong Limited Conducts Disciplinary Action against China Bright Culture Group (Stock Code: 1859) and Two Current and Former Executive Directors, Questioning the Commercial Rationale of the Harsh Termination Provisions of an Asset Management Agreement
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Financial Services Regulatory Update 2022/10/28

  • Building Hong Kong’s Capacity for Future Financial Services
  • Hong Kong Accounting and Financial Reporting Council Publishes 2022 Annual Investigation and Compliance Report
  • The Stock Exchange of Hong Kong Limited Publishes Consultation Paper on New Listing Rules for Specialist Technology Companies
  • The Stock Exchange of Hong Kong Limited Publishes New Guidance Note on Cooperation and Updated Sanctions Statement
  • The Court of First Instance Orders Sound Global Ltd. Chairman to Purchase Shares from Investors
  • Hong Kong Securities and Futures Commission’s Takeovers Bulletin Highlights Two Decisions on Special Waiver from the General Offer Obligation Triggered by Foreclosure Sale and the Determination of the Offer Price in a Mandatory General Offer
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Financial Services Regulatory Update 2022/09/30

  • Project e-HKD and Modernizing the Concept of Using Hong Kong Law as Governing Law in Contracts – Why More Contracts Should be Governed by Hong Kong Law in Future
  • Takeovers Panel of the Hong Kong Securities and Futures Commission Rules on the Price for the Mandatory General Offer for Suncity Group Holdings Limited
  • The Financial Services Development Council of Hong Kong Publishes Recommendations in relation to Cementing Hong Kong’s Role as a Premier Private Wealth Management Hub in Asia
  • Hong Kong Monetary Authority Announces the Launch of the Enhanced Competency Framework on Compliance – Hong Kong on the Right Track to Proactively Build Talent
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Financial Services Regulatory Update 2022/08/26

  • Hong Kong-listed ETFs Poised to Ride the Trend of Thematic ETF Growth Related to the Greater China Region
  • The Stock Exchange of Hong Kong Limited Publishes Conclusions on Proposed Amendments to Listing Rules Relating to Share Schemes of Listed Issuers
  • The Stock Exchange of Hong Kong Limited Publishes Enforcement Bulletin to Reminds of the Disclosure and Shareholder Approval Requirements of Certain Transactions of Listed Issuers
  • Hong Kong Takeovers Bulletin Reminds of Ancillary Documents Requirements and Compliance with Rule 19.1 for Closing Announcements Involving Trading Suspensions Due to Insufficient Public Float
  • Hong Kong Securities and Futures Commission Sets Out the Way Forward for Green and Sustainable Finance
  • Hong Kong Securities and Futures Commission and the China Securities Regulatory Commission to Enhance Stock Connect Trading Calendar
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Financial Services Regulatory Update 2022/07/29

  • Hong Kong Monetary Authority Presses On To Improve Hong Kong’s Financial Infrastructure
  • Survey of Hong Kong Securities and Futures Commission Shows Hong Kong’s Asset and Wealth Management Business Remained Resilient in 2021
  • Hong Kong Securities and Futures Commission and the China Securities Regulatory Commission Launch ETF Connect
  • Hong Kong Government’s Gazettal of Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022
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Financial Services Regulatory Update 2022/06/17

  • Consultation on Tightening Provisions regarding Offers of Investments, Section 213 Enforcement and Insider Dealing under the Securities and Futures Ordinance of Hong Kong
  • The Monetary Authority of Singapore, the International Finance Corporation and the United Nations Development Program Launch a Global Program for MSME Financial Literacy and Empowerment
  • Hong Kong Securities and Futures Commission Reprimands and Fines China Everbright Securities (HK) Limited HK$3.8 Million for Breaches of Anti-money Laundering Regulatory Requirements
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Financial Services Regulatory Update 2022/05/20

  • Directors’ Duties to Avoid Frustrating Action During a Public Takeover
  • The Financial Reporting Council of Hong Kong Concludes that a Listed Entity Failed to Properly Account for the Interests in Two Investees and its Auditor Failed to Identify the Misstatements
  • The Financial Reporting Council of Hong Kong Finds that an Auditor Failed to Obtain the Evidence Needed to Evaluate the Measurement and Impairment Assessment of Goodwill arising from an Acquisition
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Financial Services Regulatory Update 2022/04/08

  • A Comparative Study on Recent Regtech Developments in Hong Kong and Singapore
  • Hong Kong Securities and Futures Commission Criticizes Two Directors for Breaches of the Takeovers Code
  • Hong Kong Green and Sustainable Finance Cross-Agency Steering Group Releases Assessment of Carbon Market Opportunities for Hong Kong and Next Steps
  • China Securities Regulatory Commission Solicits Public Comments on Revision to the Provisions on Strengthening Confidentiality and Archives Administration of Overseas Securities Offering and Listing by Domestic Companies
  • Officials of China Securities Regulatory Commission Answered Reporter Questions Regarding the Revised Provisions on Strengthening Confidentiality and Archives Administration of Overseas Securities Offering and Listing by Domestic Companies (Draft for Comments)
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Financial Services Regulatory Update 2022/03/18

  • Hong Kong Financial Services Development Council Report Proposes New SME Board with Focus on ESG and Sustainability Development Opportunities
  • Concrete Steps Towards the Law-based Integration of the Legal Communities in the Guangdong-Hong Kong-Macao Greater Bay Area and its Implications
  • Financial Reporting Council of Hong Kong Launches Engagement and Consultation Paper on Further Reform of the Accounting Profession
  • The International Monetary Fund Acknowledges Hong Kong’s Strong Economic Recovery and Stability of its Financial System
  • China Securities Regulatory Commission Officials Answered Reporter Question regarding US-listed China-related Companies
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Financial Services Regulatory Update 2022/02/25

  • Hong Kong Securities and Futures Commission Issues Phasal Consultation Conclusion on Licensing Depositaries of SFC-Authorized Collective Investment Schemes (under New Regulated Activity 13)
  • Hong Kong Securities and Futures Commission Issues Quarterly Report
  • Hong Kong Securities and Futures Commission Reprimands and Fines South China Commodities Limited HK$4.8 Million for Regulatory Breaches
  • The China Securities Regulatory Commission Releases Provisions on the Supervision and Administration of Depository Receipts under the Stock Connect Scheme between Domestic and Overseas Stock Exchanges
  • Officials from the China Securities Regulatory Commission Answer Reporter Questions Regarding the Depository Receipts Business under the Stock Connect Scheme
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Financial Services Regulatory Update 2022/02/11

  • A Caveat on Mandatory General Offer Triggered by the “Chain Principle”
  • Market Misconduct Tribunal Sanctions Tianhe Chemicals Group Limited and its Executive Director for Issuing False or Misleading Information in the Company’s Listing Prospectus
  • China Securities Regulatory Commission Issues “Guidance on Improving the Quality of Prospectus Information Disclosure under the Registration System”
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Financial Services Regulatory Update 2022/01/21

  • If Tobacco Advertisements are Undesirable and Banned, Should Cryptocurrency Advertisements be Banned?
  • Hong Kong Exchanges and Clearing Limited Signs New Strategic Cooperation Agreement with Shenzhen Stock Exchange to Support Greater Bay Area Development
  • Hong Kong Monetary Authority Issues Discussion Paper on Crypto-assets and Stablecoins
  • Closer Capital Markets Cooperation for Greater Synergy Between the Mainland and Hong Kong — Speech at the 15th Asian Financial Forum 2022 by Dr. Fang Xinghai, Vice Chairman of China Securities Regulatory Commission

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Financial Services Regulatory Update 2022/01/07

  • Judicial Cooperation Spirit Heralded in Nuoxi Capital Limited v Peking University Founder Group Company Limited [2021] HKCFI 3817
  • Hong Kong Exchanges and Clearing Limited Reaches Agreement with Mainland Partners on Adding ETFs to Stock Connect
  • The Financial Reporting Council of Hong Kong Issues Guidelines for Effective Audit Committee and Report on Assessment of the HKICPA’s Performance of the Specified Functions
  • China Securities Regulatory Commission Issues Regulations on the Implementation of the System for Parties’ Commitment to Administrative Enforcement Regarding Securities and Futures

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Financial Services Regulatory Update 2021/12/24

  • Talent Building, Skills Maps and Market Quality – A Comparison between the Approaches of Hong Kong and Singapore
  • The Stock Exchange of Hong Kong Limited Announces New Listing Regime for Special Purpose Acquisition Companies
  • Hong Kong-Singapore Joint Operation Against Suspected Cross-Border Ramp-and-Dump Syndicate
  • The Green and Sustainable Finance Cross-Agency Steering Group of Hong Kong Announces Progress and Way Forward to Advance Hong Kong’s Green and Sustainable Finance Development
  • Hong Kong Securities and Futures Commission Introduces Next Generation Digital Licensing Platform
  • China Securities Regulatory Commission Spokesperson Answers Reporter Questions Regarding Recent Statements of the United States Public Company Accounting Oversight Board
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Financial Services Regulatory Update 2021/12/10

  • Hong Kong Financial Reporting Council Launches New Whistleblowing Policy
  • Hong Kong Securities and Futures Commission Publishes Review of The Stock Exchange of Hong Kong Limited’s Performance in its Regulation of Listing Matters
  • Hong Kong Exchanges and Clearing Limited Publishes Net-Zero Guide & Announces New ESG Data Display
  • Hong Kong Monetary Authority Promulgated the Implementation Details of the Cross-boundary Wealth Management Connect in the Guangdong-Hong Kong-Macao Greater Bay Area
  • China Securities Regulatory Commission Spokesperson Answered Reporter Questions Regarding Recent Statement
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Financial Services Regulatory Update 2021/11/26

  • The Growing Significance of Online Platform to Facilitate Shareholders’ Meetings — Observations from the Case Re Chong Hing Bank Limited (創興銀行有限公司)
  • The Stock Exchange of Hong Kong Limited Publishes Conclusions on Reforms to Enhance Listing Regime for Overseas Issuers
  • Hong Kong Monetary Authority Takes Disciplinary Actions Against Four Banks for Contraventions of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance
  • The China Securities Regulatory Commission Vice Chairman Fang Xinghai Commenting on China-ASEAN Capital Market Cooperation at the 2021 China-Singapore (Chongqing) Strategic Connectivity Demonstration Project Financial Summit
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Financial Services Regulatory Update 2021/11/12

  • Digitalized Environment, Social & Governance (ESG) Reporting – Comparative Review Between Hong Kong’s and Singapore’s Approaches
  • Hong Kong Securities and Futures Commission Concludes Consultation on Conduct Requirements for Bookbuilding and Placing Activities
  • The Stock Exchange of Hong Kong Limited Publishes Consultation Paper on Proposed Amendments to Listing Rules Relating to Share Schemes of Listed Issuers
  • Hong Kong Monetary Authority Launches AML Regtech Lab
  • China Securities Regulatory Commission Releases the Main Rules and Regulations for the Establishment of the Beijing Stock Exchange
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Financial Services Regulatory Update 2021/10/29

  • Comparative Review of Regulators’ Approaches Towards Financial Institutions’ Due Diligence Against Potential Frauds, Bribery and Other Red Flags
  • Hong Kong Monetary Authority Announces a List of Eligible Banks in Hong Kong for Launching the Cross-boundary Wealth Management Connect Pilot Scheme
  • The People’s Bank of China and the Hong Kong Monetary Authority Sign the “Memorandum of Understanding on Fintech Innovation Supervisory Cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area”
  • The Stock Exchange of Hong Kong Limited Launches e-Learning on Continuing Obligations
  • Hong Kong Insurance Authority Welcomes the Inaugural Issuance of Insurance-linked Securities in Hong Kong
  • China Securities Regulatory Commission Announced Financial Derivatives Accessible to Qualified Foreign Investors
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Financial Services Regulatory Update 2021/10/15

  • Hong Kong Securities and Futures Commission and Hong Kong Monetary Authority Issue Results of Joint Survey on the Sale of Non-exchange Traded Investment Products – Reflecting on Hong Kong’s Development as an Asset Management Hub
  • Hong Kong Monetary Authority Publishes Technical Whitepaper on Retail Central Bank Digital Currency
  • The Stock Exchange of Hong Kong Limited Publishes Consultation Paper on Special Purpose Acquisition Companies
  • Hong Kong Companies Registry Publishes Re-domiciliation Mechanisms under the Open-ended Fund Company and Limited Partnership Fund Regimes to be Introduced with Effect from November 1, 2021
  • Monetary Authority of Singapore and Financial Industry to Use New Digital Platform to Fight Money Laundering – Comparison with Hong Kong Monetary Authority’s New Collaboration Initiative
  • China Securities Regulatory Commission Chairman Speaks on Openness and Cooperation: the Role of Capital Markets in Post-Pandemic Recovery
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