Events listed in Hong Kong
United Nations Sanctions (Haiti) Regulation (Cap. 537CO) (Version Date: 02/11/2023)
ID 25615
A new consolidated version of the United Nations Sanctions (Haiti) Regulation was published on Hong Kong’s e-Legislation platform, the official website of Hong Kong’s government for publicizing legal documents. The regulation implements several decisions of the United Nations Security Council as regards restrictive measures towards Haiti as outlined in UN resolution 2653 which was subsequently modified by UN resolution 2664. The sanction measures thereby ...
SFC consults further on proposed amendments for implementing an uncertificated ...
ID 25597
In view of the gradual introduction of an Uncertificated Securities Market (USM) regime under which investors will be able to hold securities in their own names (legal title), but yet without paper (please see relating EventID 6244 and EventID 20477), the Securities and Futures Commission of Hong Kong, SFC, has launched a new consultation in this context. Specifically, **the Commission seeks feedback on proposed ...
HKEX Signs Agreement with CEEX Shenzhen to Advance the Greater Bay Area’s Carbon ...
ID 25583
On October 31, 2023, Hong Kong Exchanges and Clearing Limited (HKEX) published a press statement to inform that it has officially entered into a Memorandum of Understanding (MOU) with the China Emissions Exchange (CEEX) Shenzhen. This collaboration aims to bolster the development of the carbon market ecosystem within Hong Kong and across the Greater Bay Area. Under this MOU, HKEX and CEEX Shenzhen will ...
SFC supports and sponsors the development of an industry-led voluntary code of ...
ID 25582
On October 31, 2023, the Securities and Futures Commission of Hong Kong (SFC) published a press release to inform that it will be supporting the development of a Voluntary Code of Conduct (VCoC) for Environmental, Social, and Governance (ESG) ratings and data product providers in Hong Kong. The VCoC is planned to be established by an industry-led working group, the *Hong Kong ESG Ratings ...
HKMA publishes the “e-HKD Pilot Programme Phase 1 Report”
ID 25554
The Hong Kong Monetary Authority (HKMA) has published a report on the key findings from phase 1 of the HKMA’s e-HKD Pilot Programme. To recall, the e-HKD pilot program was established two years ago in 2021 to evaluate the potential use of a retail Central Bank Digital Currency (rCBDC) in Hong Kong, the so-called e-HKD. Numerous participants engaged in the program and explored various ...
MPFA Blog – MPFA continues to drive fee reduction
ID 25548
The Mandatory Provident Fund Schemes Authority (MPFA) has published a blog recently written by MPFA Chairman Mrs. Ayesha Macpherson Lau as regards fees in mandatory provident funds (MPFs) and future expectations in this context. In it, the Chairman emphasizes that the MPFA has successfully driven a significant reduction in fees over the past one and a half decades, with the average fund expense ratio ...
Circular on Clearing Amendment Rules
ID 25530
On October 27, 2023, the Securities and Futures Commission of Hong Kong (SFC) published a circular in view of the gazettal of the Securities and Futures (OTC Derivative Transactions—Clearing and Record Keeping Obligations and Designation of Central Counterparties) (Amendment) Rules 2023 which are scheduled to come into force on July 1, 2024 once passed by the Legislative Council. To recall, the amendments to the ...
Circular on Disclosure / Use of Annualised Returns for Money Market Funds
ID 25494
On October 25, 2023, the Securities and Futures Commission of Hong Kong (SFC) issued a circular as regards the illustration of the annualized return in marketing material of money market mutual funds (MMFs). The circular was prompted by fund managers who inquired about an adequate disclosure of annualized returns that are based on periods shorter than one year as this issue is currently not ...
Stamp Duty (Amendment) (Stock Transfers) Bill 2023 gazetted
ID 25486
On October 25, 2023, the Hong Kong government published a press release to announce the gazettal of the Stamp Duty (Amendment) (Stock Transfers) Bill 2023. The Bill will modify the Stamp Duty Ordinance to reduce the stamp duty rate on stock transfers, including sales and purchases, from 0.13% to 0.1%. The Bill will be introduced into the Legislative Council on November 1, 2023 for ...
Circular on distributors providing additional returns and other services or ...
ID 25468
The Securities and Futures Commission (SFC) has issued a circular to address concerns about the practices of licensed corporations and intermediaries in offering SFC-authorized funds. The circular follows a recent review of such practices and startling observations in this context. For example, some distributors have been enticing clients with guaranteed returns and incentives that divert attention from understanding the risks of these funds. Some ...