Hong Kong Needs a Vibrant SME Fundraising Board, says SFC’s Julia Leung
Speaking about a “Sustainable and Healthy Ecosystem for the Small-cap Stock Segment of Hong Kong Market”,[1] SFC Chief Executive Officer, Ms. Julia Leung, emphasised the need for Hong Kong to develop a sustainable small-cap stock market to meet the needs of small and medium-sized enterprises (SMEs) and investors. Noting the commitment in this year’s Budget […]
HKMA Urges Banks to Provide Banking Services to Virtual Asset Service Providers
In its circular promoting “Access to Banking Services for Corporate Customers” (the Circular), Hong Kong’s Monetary Authority (the HKMA) encourages banks to “support virtual asset service providers licensed and regulated by the Securities and Futures Commission (SFC) on their legitimate need for bank accounts in Hong Kong”. Published on 27 April 2023 ahead of the […]
The Hong Kong Stock Exchange (HKEx) published its 8th Listed Issuer Regulation Newsletter (the HKEx Newsletter) in June 2023, with reminders relating to audits and financial reporting, compliance with the new HKEx Listing Rules on share schemes and the disclosure of business valuations in transactions. Auditing, Financial Reporting and related Internal Control Matters The HKEx […]
HKEX Consults on Mandatory Climate Disclosures in ESG Reports
On 14 April 2023, the Stock Exchange of Hong Kong Limited (HKEX) published a Consultation Paper proposing to mandate all listed issuers to make climate-related disclosures in their annual Environmental, Social and Governance (ESG) reports and introduce additional climate-related disclosures based on the International Sustainability Standards Board (ISSB) Climate Standard1 in a new Part D of Appendix 27 […]
On 31 January 2023, the Hong Kong Monetary Authority (HKMA) published its Consultation Conclusions on its proposals for regulating payment-related stablecoins set out in its Discussion Paper on Crypto-assets and Stablecoins published a year earlier. Noting generally positive feedback from respondents, the Consultation Conclusions summarise the feedback received and set out the key parameters of […]
On 31 October 2022, Julia Charlton presented a webinar on 2022 Virtual Asset (Crypto) Service Providers & Dealers in Precious Metals & Stones: Hong Kong’s New Regulatory Regimes. This webinar provided an overview to the new Hong Kong licensing regime for virtual asset service providers and the new registration regime for dealers in precious metals […]
Hong Kong’s proposed foreign source income exemption regime for passive income
Under Hong Kong’s Proposed FSIE Regime, offshore passive income will be deemed to be sourced from Hong Kong and subject to Hong Kong tax if certain requirements are met. The Hong Kong government plans to introduce an amendment bill on Hong Kong’s Proposed FSIE Regime in October 2022 in order to bring the Proposed FSIE […]
On 10 June 2022, the Stock Exchange of Hong Kong (HKEx) released its 2022 listing newsletter (HKEx Listing Newsletter). This fourth edition primarily focuses on the forthcoming global sustainability reporting standards on climate disclosures that will form the upcoming HKEx review of the environmental, social, and corporate governance reporting framework (HKEx ESG Reporting Framework), the […]
On 4 July 2022, the People’s Bank of China (the PBOC), the Hong Kong Securities and Futures Commission (SFC), and the Hong Kong Monetary Authority (HKMA) jointly announced that the China Foreign Exchange Trade System (also known as the National Interbank Funding Centre) (CFETS), and Shanghai Clearing House (SHCH), together with OTC Clearing Hong Kong […]
A new registration regime for dealers in precious metals and stones (DPMS) will come into effect on 1 January 2023 under proposed amendments to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (the AMLO) which were introduced to Hong Kong’s Legislative Council on 6 July 2022.1 The proposed amendments are set out in the […]
SFC Proposes Significant Amendments to SFO Enforcement Regime
On 10 June 2022, the Securities and Futures Commission (SFC) launched a two-month consultation on proposed amendments to the enforcement-related provisions of the Securities and Futures Ordinance (SFO). The Consultation Paper’s proposals are far-reaching, comprising the following three principal proposals: to amend section 213 of the SFO to enable the SFC to apply to the Court of […]
