Hong Kong Law

The HK Monetary Authority has urged banks to “support virtual asset service providers licensed and regulated by the Securities and Futures Commission on their legitimate need for bank accounts in Hong Kong”

The HKEx has issued its 8th Listed Issuer Regulation Newsletter for HK listed issuers covering auditing and financial reporting, new rules on share schemes and disclosure of business valuations in transactions

The HKMA has announced the commencement of its e-HKD Pilot Programme involving 16 firms across the financial, payment and technology sectors to examine different use cases and design issues.

HK’s SFC is consulting on changes to its Codes on Takeovers and Mergers and Share Buy-backs set out in its Consultation Paper on the proposed amendments to the Codes on Takeovers and Mergers and Share Buy-backs

The SFC has issued a Circular on the implementation of its new AMLO licensing regime for centralised virtual asset trading platform operators which took effect on 1 June 2023

The FSTB issued a public consultation on a new proposed inward re-domiciliation regime for Hong Kong under the HK Companies Ordinance detailing the conditions and application process of the proposed regime.

The SFC has finalised the detailed regulatory requirements for SFC-licensed virtual asset trading platforms with the publication of its consultation conclusions on 23 May 2023

On 24 March 2023, the SFC published its consultation conclusions on proposed amendments to introduce new Type 13 regulated activity to regulate depositaries of SFC-authorised collective investment schemes

HKEX published a Consultation Paper proposing to mandate all listed issuers to make climate-related disclosures in their annual ESG reports and introduce additional climate-related disclosures

HKEX published its March 2023 Enforcement Bulletin emphasising the importance of proper disclosure by listed issuers and their directors and the consequences of providing misleading or incomplete information.

The SFC issued new guidance for H share issuers following the announcement of New PRC Regulations for overseas listings and repeal of the Special Regulations and Mandatory Provisions effective 31 March 2023

On 31 March 2023, new Chapter 18C of the HKEX Listing Rules and and Guidance Letter HKEX- GL115-23 took effect allowing Specialist Technology Companies to list on the HKEX’s Main Board