According to official news, the Hong Kong Securities Supervision Commission has issued a vision to promote the vigorous development of Hong Kong's fintech ecosystem. On the basis of the current regulatory measures of the Securities Supervision Commission, which include risk-based on-site inspections and direct dialogue with the applicant's senior management and controllers, the Hong Kong Securities Supervision Commission is implementing an expedited license approval process to process virtual as...
The Hong Kong Securities Supervision Commission held a seminar at its headquarters on October 24 to maintain interaction with the industry and further explore the key challenges and opportunities facing the industry. At the seminar, the Hong Kong Securities Supervision Commission shared with the industry its proactive measures to promote the continued growth and stability of Hong Kong's capital markets, as well as recent developments in virtual assets, integrated fund platforms and RMB fixed inc...
The Financial Secretary of Hong Kong, Paul Chan, said that under the leadership of Dr. Wong, the Securities Supervision Commission will continue to implement the dual roles of regulator and market development promoter to ensure the fair, transparent and orderly operation of the local securities and futures markets, and focus on reform and innovation to consolidate and enhance Hong Kong's status as an international financial center. The Hong Kong Securities Supervision Commission has also continu...
According to the updated data on the official website of the Hong Kong Securities Supervision Commission, the application for a virtual asset trading platform license submitted by bitcoinworld to the Hong Kong Securities Supervision Commission has been returned on October 10. According to relevant information, the company name of the virtual asset trading platform operator submitted by bitcoinworld is "Bitcoin World Technology Limited", and the Chinese name is not applicable. Bitcoinworld first ...
The Hong Kong Securities Supervision Commission issued a circular stating that in the process of supervising licensed corporations engaged in the management of private funds and trust accounts, a number of deficiencies and unsatisfactory conduct were identified. Many of the cases involved serious misconduct that posed a significant threat to investors' interests and undermined public confidence in the integrity of the Hong Kong market and Hong Kong's status as an international asset management c...
The Hong Kong Securities Supervision Commission issued a circular stating that in the process of supervising licensed corporations engaged in the management of private funds and trust accounts, a number of deficiencies and unsatisfactory conduct were identified. Many of the cases involved serious misconduct that posed a significant threat to investors' interests and undermined public confidence in the integrity of the Hong Kong market and Hong Kong's status as an international asset management c...
The Securities Industry Financial Review released by the Hong Kong Securities Supervision Commission shows that the total net profit of the securities industry in Hong Kong for the six months ended June 30, 2024 recorded further growth, while the average daily market turnover and the number of active cash and margin customers increased. The Financial Review Report and the latest joint survey between the Securities Supervision Commission and the HKMA show that the industry is increasingly improvi...
The official website of the Hong Kong Securities Supervision Commission updates the application information for a virtual asset trading platform license, which shows that HKDAX has submitted an application for a virtual asset trading platform license to the Hong Kong Securities Supervision Commission on August 27, 2024. The company name of the submitted virtual asset trading platform operator is "Hong Kong Digital Asset Xchange Limited", and there is no Chinese name. As of now, the number of vir...
Li Ziqi, senior director of the investment products department of the Hong Kong Securities Supervision Commission, said that tokenized deposits are an important cornerstone of the entire tokenized ecosystem. It is hoped that when the virtual asset market is mature, the next step will be to promote the opening of secondary market transactions and the use of fund units as collateral, improve the efficiency of market capital utilization, and ultimately promote the tokenization of capital.
The Hong Kong Securities Supervision Commission issued an Anti-Money Laundering/Terrorist Financing Circular to Licensed Corporations, Virtual Asset Service Providers and Associated Entities, which states that the United Nations Security Council (UNSC) Sanctions Committee, which administers the ISIL (Da'esh) and Al Qaeda sanctions regimes, removed an individual from its sanctions list on 23 August 2024 (New York time). Licensed corporations, virtual asset service providers licensed by the Securi...
According to sources quoted by Bloomberg, the Hong Kong Securities and Futures Commission conducted on-site inspections of some virtual asset trading platforms and found unsatisfactory behavior, and it is unknown whether the relevant platforms will eventually obtain formal licenses. According to sources, some cryptocurrency companies rely too much on a few senior executives to oversee the custody of client assets, while others...
The Securities Supervision Commission of Hong Kong released the "Asset and Wealth Management Activity Survey 2023", which shows that the number of licensed institutions providing asset management in Hong Kong rose steadily by 12% to 2,161 in June 2024. In addition, the strong growth momentum of open-ended fund companies continued. Hong Kong-incorporated Securities Supervision Commission-authorized funds performed strongly. Net capital inflows continued to improve in the first quarter of 2024, re...
The Hong Kong Securities Supervision Commission today warned the public to beware of entities operating under the names "Tokencan", "Hong Kong Weibi Crypto Asset" and "HKD.com Corporation" suspected of engaging in fraudulent activities related to virtual assets and/or claiming to operate virtual asset trading platforms in Hong Kong without a license. The Hong Kong Police Force has taken action to block relevant websites and social media pages. The Securities Supervision Commission has also place...