From 23 September 2024, Hong Kong’s securities and derivatives markets will remain open during severe weather conditions (where a typhoon signal No. 8 or above or a black rainstorm warning is issued by the Hong Kong Observatory). The Securities and Futures Commission of Hong Kong (SFC) published a Circular on 18 June 2024
Background
On 22 December 2023, the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) issued an updated joint circular on intermediaries’ virtual asset-related activities (Joint Circular) with appendices. The Joint Circular supersedes the previous joint circular of 20 October 2023 (October Joint
Key takeaways from Hong Kong Fintech Week
Hong Kong Fintech Week 2023 saw several new policy and regulatory announcements by the Financial Services and the Treasury Bureau (the FSTB), the Securities and Futures Commission (the SFC) and the Hong Kong Monetary Authority (the HKMA). The key developments are summarised below:
Key takeaways from Hong Kong Fintech Week
Hong Kong Fintech Week 2023 saw several new policy and regulatory announcements by the Financial Services and the Treasury Bureau (the FSTB), the Securities and Futures Commission (the SFC) and the Hong Kong Monetary Authority (the HKMA). The key developments are summarised below:
On 20 October 2023, the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) issued an updated joint circular on intermediaries’ virtual asset-related activities (Joint Circular) with appendices. This Joint Circular supersedes the previous joint circular of 28 January 2022.
When the SFC formulated
On 28 April 2022, the International Organization of Securities Commissions (IOSCO) published a report setting out some issues and considerations for regulators when reviewing the regulation of market data.
The report provides feedback on IOSCO’s earlier consultation report ‘Market Data in the Secondary Equity Market’ and offers the following considerations that regulators may find helpful
Uncertificated securities market regime
On 11 June 2021, the Hong Kong Government gazetted the Securities and Futures and Companies Legislation (Amendment) Ordinance 2021 (SFCA Ordinance), marking a significant milestone in moving Hong Kong towards an uncertificated securities market (USM) where investors will have the option of holding securities in their own
On 26 February 2021, the International Organisation of Securities Commissions (IOSCO) published its work programme for 2021/2022.
Ashley Alder, Chair of the IOSCO Board, said:
“In 2020, our agenda was dominated by the response to COVID-19 induced market stresses. IOSCO has actively taken steps to address potential financial stability risks including a
The Securities and Futures Commission (SFC) has launched a three-month consultation on proposals to amend its anti-money laundering and counter-financing of terrorism (AML/CFT) guidelines for licensed corporations (LCs) and associated entities (AEs).[1] The proposed amendments aim to align the AML/CTF guidelines with the Guidance for a
The Monetary Authority of Singapore (MAS) recently issued a consultation paper setting out its proposed regulatory approach for derivatives contracts that reference payment tokens as underlying assets (Payment Token Derivatives).
What is this approach meant to address?
A well-regulated market for derivatives – particularly one anchored by institutional investors with sophisticated