Series
Publications
Series
Publications
HKMA Consultation on SPM for cryptoasset capital rules: The Hong Kong Monetary Authority (HKMA) is consulting on SPM module CA-G-1 “Overview of Capital Adequacy Regime for Locally Incorporated Authorised Institutions” to include a framework for calculating cryptoasset exposures. The consultation runs until 24 November 2025.
Blockchain for secure cross-border document verification: The HKMA is encouraging banks to use the cross-boundary Data Validation Platform which allows for the verification of documents without sending sensitive information cross-border between Hong Kong SAR and Mainland China.
Development of Uses for e-HKD: The HKMA has published a report on Phase 2 of the Pilot trials for the e-HKD, and concludes that further development of the e-HKD use cases should focus on supporting the development of the tokenisation ecosystem and cross-border payments.
SFC consultation on amendments to the Code on Unit Trusts and Mutual Funds: The Securities & Futures Commission of Hong Kong (SFC) has published a consultation proposing changes that aim to offer greater flexibility, improve investor protection and align Hong Kong’s fund regime with global best practices. Key proposals include permitting the use of the Value-at-Risk method for derivative risk management, updating liquidity risk management for open-ended funds to align with international standards, and strengthening requirements for money market funds, such as mandating anti-dilution tools and enhancing transparency.
Streamlined REIT documentation: SFC-authorised real estate investment trusts (REITs) can now use more streamlined offering documents for secondary offerings, which focus mainly on offer details and align closely with listed company requirements.
HKMA consolidated on guidance on fit and proper staff: The HKMA has issued a circular consolidating and updating guidance on the registration and controls for staff carrying out regulated activities under the Securities and Futures Ordinance.
Climate risk management for banks: The HKMA has issued new guidance outlining good practices for banks in managing climate-related financial risks and encouraging banks toward a more quantitative-oriented climate risk management framework.
Professional investor misclassification: The SFC has reprimanded and fined a registered institution HK$8 million for systems and controls deficiencies, which had led to a failure to ensure the correct classification of professional investors for over 12 years.
Licensed corporation contempt of court: The Court of First Instance has ordered a Licensed Corporation to produce records and pay a fine for contempt of court after it failed to comply with statutory notices issued during SFC investigations into suspected misconduct in certain initial public offerings.
New consultation on measures to enhance investor recourse avenues in market misconduct cases: The Monetary Authority of Singapore (MAS) has published a consultation seeking feedback on proposed measures which aim to strengthen investor recourse including by reducing legal barriers to civil action. This may expose financial institutions to increased litigation risk. Read more in our blog post.
New consultation on proposed amendments to related party transaction requirements for banks: MAS has published a consultation paper proposing changes to the requirements for banks on their transactions with related parties. The changes are intended to enhance oversight of such related party transactions, to address the risks of conflicts of interest, and to align with international best practices. Read more in our blog post.
Responses to feedback on prudential treatment of cryptoasset exposures and requirements for additional Tier 1 and Tier 2 capital instruments for banks: MAS has published its responses to feedback received on proposed amendments, which were aimed at implementing the standards relating to the prudential treatment and disclosure of cryptoasset exposures.
Updates to Notice 637 Risk Based Capital Adequacy Requirements for Banks Incorporated in Singapore: MAS has updated Notice 637 to include new restrictions on selling Additional Tier 1 (AT1) and Tier 2 capital instruments to retail investors in Singapore, updating interest rate risk in the banking book framework and clarifying the capital adequacy ratio.
New consultation on consolidation of listing suitability and prospectus review functions: MAS has published a consultation paper seeking feedback on proposals to consolidate listing suitability and prospectus review functions under the SGX to streamline the listing process for issuers.
MAS launches BLOOM initiative to extend settlement capabilities: MAS has announced a new initiative, BLOOM (Borderless, Liquid, Open, Online, Multi-currency), to extend settlement capabilities offered by financial institutions.
MAS updates guidelines on licensing for payment services providers: MAS has updated the Guidelines on Licensing for Payment Service Providers [PS-G01], to update the requirements on the Shareholding Chart, in order to illustrate how to determine 20% controllers of a Licensed Payment Service Provider. In line with this update, the MAS has also revised the licensing application forms (Forms 1 and 3A) under the Payment Services Act 2019.
MAS coordinates with police on cryptocurrency scam: MAS has announced that they are working closely with the Police through the Anti-Money Laundering Case Coordination and Collaboration Network (AC3N) to follow up on a significant AML case involving an alleged transnational fraud network.
MAS revokes the CMS licence of a fund management company: MAS revoked the Capital Markets Services Licence of a fund management company for failing to submit its quarterly returns within the stipulated timeframe and for failing to meet capital requirements and satisfy the MAS of its financial standing.
MAS issues prohibition orders against an individual for false trading: MAS has issued a prohibition order (PO) against an individual following his conviction for false trading, unauthorised trading, and dishonestly receiving stolen property.
MAS issues prohibition orders against two individuals convicted for insurance fraud: MAS has issued POs against two individuals convicted of insurance fraud.
MAS imposed civil penalty for insider trading: Following a joint investigation by MAS and the Commercial Affairs Department, Singapore Police Force, MAS has imposed a civil penalty of S$50,000 on an individual for insider trading.
MAS issues prohibition orders against two individuals for not being fit and proper persons: MAS has issued 3-year POs under the Financial Services and Markets Act 2022 against two former representatives of a licensed financial adviser. One of the individuals forged a client’s signature to effect the client’s request to terminate a policy and both individuals attempted to conceal the misconduct.
Individual charged for insider trading and deception: A man was charged for insider trading and deception under the Securities and Futures Act 2001. He purchased REIT units while in possession of non-public information concerning the financial results of the REIT.
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