Financial Services Regulatory Update 2023/09/28

  • Hong Kong Accounting and Financial Reporting Council Investigation Report Shows Auditors’ Inadequate Response to Increasing Incidence of Fraud in Financial Statements
  • Hong Kong Securities and Futures Commission Issues Warning Statement on Unregulated Virtual Asset Trading Platform
  • The Stock Exchange of Hong Kong Limited to Launch FINI on November 22, 2023
  • The Stock Exchange of Hong Kong Limited Publishes Consultation Paper on GEM Listing Reforms
  • Hong Kong Securities and Futures Commission Amends the Codes on Takeovers and Mergers and Share Buy-backs
  • Hong Kong Securities and Futures Commission’s Takeover Bulletin Clarifies the Effects of Irrevocable Undertakings
  • Hong Kong Securities and Futures Commission Issues Quarterly Report
  • Hong Kong Monetary Authority Publishes Joint Report on Project Sela
  • Hong Kong Exchanges and Clearing Limited Celebrates Opening of London Office
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Financial Services Regulatory Update 2023/08/25

  • The Importance of Integrity and Incorruptibility in Hong Kong’s Financial Markets – Insights from Singapore Prime Minister Lee Hsien Loong’s National Day Rally Speech
  • Importance of Prompt Disclosure of Certain Specific Inside Information During Audit Period
  • Hong Kong Securities and Futures Commission Concludes Consultation on Amendments to Enforcement-Related Provisions of the Securities and Futures Ordinance
  • Hong Kong Securities and Futures Commission Publishes Review of The Stock Exchange of Hong Kong Limited’s Performance in Regulating Listing Matters
  • Hong Kong Securities and Futures Commission Welcomes International Organization of Securities Commissions’ Endorsement of New Sustainability Disclosure Standards
  • Hong Kong Exchanges and Clearing Limited Welcomes Further Stock Connect Enhancements between Hong Kong and Mainland China
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Financial Services Regulatory Update 2023/07/22

  • Hong Kong’s New Risk-based Capital Regime and Its Implications to the Insurance Industry
  • Hong Kong Exchanges and Clearing Limited’s New IPO Settlement Platform, FINI, to Launch in October
  • The Hong Kong Securities and Futures Commission and The Stock Exchange of Hong Kong Limited Sign Second Addendum to Memorandum of Understanding Governing Listing Matters
  • The Hong Kong Securities and Futures Commission and the Hong Kong Accounting and Financial Reporting Council join Forces to Combat Misconduct by Listed Issuers
  • Hong Kong Exchanges and Clearing Limited Signs Cooperation Agreement with Beijing Stock Exchange and Ningbo Municipal People’s Government
  • Speech by Tim Lui, Chairman of the Hong Kong Securities and Futures Commission at Law Society of Hong Kong’s Forum Emphasizing Hong Kong’s Unique access to China’s Capital Markets
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Financial Services Regulatory Update 2023/06/23

  • Hong Kong Accounting and Financial Reporting Council Sets out Its Position on Documentation of an Auditor’s Work on “Other Information” Included in the Annual Report of a Listed Entity
  • Hong Kong Exchanges and Clearing Limited Publishes Regulation Newsletter for Listed Issuers : Disclosure of Business Valuations in Transactions
  • Hong Kong Securities and Futures Commission Consults on Revisions to Takeovers and Share Buy-Back Rules
  • Hong Kong Exchanges and Clearing Limited Launches Hong Kong Dollar – Renminbi Dual Counter Model and Dual Counter Market Making Programme
  • Hong Kong Securities and Futures Commission Concludes Consultation on Regulation of Virtual Asset Trading Platforms
  • Hong Kong Securities and Futures Commission Concludes Consultation on the Position Limit Regime
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Financial Services Regulatory Update 2023/05/26

  • The People’s Bank of China, Hong Kong Securities and Futures Commission and Hong Kong Monetary Authority Commences Mutual Access between the Mainland and Hong Kong Interest Rate Swap Markets
  • Hong Kong Exchanges and Clearing Limited Launches Hong Kong Dollar – Renminbi Dual Counter Mode on June 19, 2023
  • The Stock Exchange of Hong Kong Limited Publishes Consultation Paper on Enhancement of Climate Disclosure under ESG Framework
  • Hong Kong Securities and Futures Commission and the China Securities Regulatory Commission Hold High-Level Enforcement Cooperation Meeting
  • The Hong Kong Monetary Authority Publishes “AML Regtech: Network Analytics” Report
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Financial Services Regulatory Update 2023/04/21

  • Update on the Launch of Renminbi Counter for Trading of Shares by Hong Kong Exchanges and Clearing Limited
  • Recent Updates on the Anti-Money Laundering and Counter-Terrorist Financing Ordinance
  • Hong Kong Securities and Futures Commission Publishes Quick Reference Guides for Licensing Requirements regarding Family Offices, etc.
  • Hong Kong Securities and Futures Commission Consults on Proposed Subsidiary Legislation for Implementing an Uncertificated Securities Market in Hong Kong
  • The Stock Exchange of Hong Kong Limited Announces New Listing Framework for the Listings of Specialist Technology Companies
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Financial Services Regulatory Update 2023/03/24

  • Implications of the New Mainland Rules for Overseas Listings to Hong Kong Takeover Transactions
  • The Stock Exchange of Hong Kong Limited Publishes Consultation Paper on Rule Amendments Following Mainland China Regulation Updates and Other Proposed Rule Amendments Relating to PRC Issuers
  • The Hong Kong Exchanges and Clearing Limited Publishes Enforcement Bulletin to Remind Directors of their Duties to Safeguard the Assets or Interests of Issuers
  • Hong Kong Exchanges and Clearing Limited Publishes an Updated Guide on General Meetings
  • Hong Kong Exchanges and Clearing Limited Publishes Frequently Asked Questions on PRC’s New Filing Requirements for Overseas Listings and Securities Offerings by Mainland companies 118-2023
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Financial Services Regulatory Update 2023/02/24

  • Duties of an Investment Adviser of a Fund – Implications of the Decision of the Hong Kong Securities and Futures Appeals Tribunal in the Cardinalasia Consulting Limited Case
  • Hong Kong Companies Ordinance Amended to Allow Holding of General Meetings by Using Virtual Meeting Technology
  • Hong Kong Securities and Futures Commission Consults on Proposals to Regulate Virtual Asset Trading Platforms
  • Hong Kong Monetary Authority Takes Disciplinary Action Against Westpac Banking Corporation, Hong Kong Branch for Contraventions of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance
  • Hong Kong Monetary Authority Issues the Consultation Conclusion to the Discussion Paper on Crypto-Assets and Stablecoins
  • Hong Kong Exchanges and Clearing Limited Issues the Review of Issuers’ Annual Reports in 2022
  • Hong Kong Securities and Futures Commission Reprimands and Fines Jinrui Futures (Hong Kong) Limited HK$4.8 Million and Sanctions its Responsible Officers for Regulatory Breaches
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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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