Research papers and global crypto regulation, at a glance urn:diting-lab:feed:en/laws/HK/feed.xml 2026-11-02T14:13:41+09:00 Diting Lab Explanations and summaries are generated by AI from the original text. Dates, rates and amounts are checked against the source, but errors are still possible, so always rely on the original. Nothing here is legal, tax or investment advice. urn:diting-lab:en:doc:398218 2026-11-02T00:00:00+09:00 2026-11-02T14:13:41+09:00

New synopsis by Julia Leung: Panel remarks at Hong Kong FinTech Week 2026 SFC · Nov 2, 2026 · SpeechSFC Chief Executive Julia Leung spoke at a panel during Hong Kong FinTech Week 2026 on AI, especially agentic AI, cybersecurity and securities tokenisation. The SFC plans principles-based guidance for AI applications with greater autonomy and a cybersecurity framework for licensed firms, with enhanced requirements for higher-risk firms. She also reviewed progress in tokenising investment products.

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SFC survey highlights wider AI adoption and challenges to responsible scaling SFC · Nov 2, 2026 · ReportThe Hong Kong SFC published its first Large Firm AI Readiness Survey, covering 20 large financial firms with 78 affiliated licensed corporations, conducted in July and August 2026. It finds 30% of firms already use agentic AI and 25% are piloting it, and most expect AI use to accelerate over 12 months. The report also lists barriers such as technology integration, moving pilots to production, costs, data and skills, and sets out four supervisory priorities. The archived text and attachments run to about 68,371 characters; the summary is based only on the first 12,000. Check the original. 1 later passages mentioning crypto assets were also used to judge the topic.

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Hong Kong FinTech Week 2026 HKMA · Nov 2, 2026 · Guidance · CryptoTopic evidence: 「The HKMA has also completed trial trades involving Recognised Dealers conducting secondary market transactions of tokenised Exchange Fund Bills, enabling them to enhance efficiency in secondary and re」 The HKMA co-organised the 11th Hong Kong FinTech Week 2026 with Invest Hong Kong on 2 November 2026. It announced initiatives including Project SAGE on agentic finance governance, a PQC Toolkit to help banks transition to post-quantum cryptography, 24/7 settlement of tokenised transactions under EnsembleTX, and a link between the Faster Payment System and UnionPay International for QR code payments.

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SFC welcomes expanded use of China Government Bonds as margin collateral by HKEX SFC · Nov 2, 2026 · GuidanceHKEX's two clearing houses now accept China Government Bonds and China policy bank bonds as eligible non-cash margin collateral, effective today. They have also cut accommodation charges on non-cash collateral to 0.15% per annum. The SFC says the move lowers market participants' funding costs and supports Hong Kong's fixed income and currency ecosystem.

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SFC welcomes appointments to Process Review Panel SFC · Oct 30, 2026 · PersonnelThe Hong Kong SFC welcomes the re-appointment of the Chairman and 10 incumbent members, and the appointment of two new members, to its Process Review Panel for two years from 1 November 2026. The panel is an independent body that reviews SFC case handling and advises on internal procedures and operational guidelines.

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Freezing orders against Lo Kai Bong and Major Success lifted in SFC’s proceedings following payment of $146.9 million into Court SFC · Oct 30, 2026 · EnforcementHong Kong's Securities and Futures Commission (SFC) has lifted the worldwide freezing orders against Lo Kai Bong and Major Success Group Limited after they paid HK$146,859,320 into Court on 20 October 2026, matching the frozen amount. The SFC's section 214 proceedings against Lo, LET Group Holdings and Summit Ascent Holdings seek remedies including a share repurchase order and appointment of a receiver or manager. The sum will be available to meet any orders the Court makes at the end of the case, with trial scheduled to begin on 20 September 2027.

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New speech by Kelvin Wong: Keynote speech at HKSA’s 47th Anniversary Financial Innovation Forum SFC · Oct 30, 2026 · SpeechSFC Chairman Dr Kelvin Wong delivered a keynote speech at the Hong Kong Securities Association's 47th Anniversary Financial Innovation Forum, titled in Chinese as "Human-centric Technology Governance Empowers Sustainable Development for Securities Industry" (Chinese version only). He argues that the financial industry needs "Accountable Intelligence" and outlines three points for AI governance: visibility, controllability and explainability. The speech stresses that good governance supports rather than opposes innovation.

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SFC to proceed with enhancements to Hong Kong’s retail fund regime code SFC · Oct 8, 2026 · GuidanceThe Securities and Futures Commission has published its consultation conclusions on amendments to the Code on Unit Trusts and Mutual Funds, taking effect in November 2026. The changes add a Value-at-Risk approach for managing retail funds' derivative exposure, streamline requirements for management companies and feeder funds, and strengthen liquidity risk management and money market fund safeguards. Related codes for pooled retirement funds, MPF products, investment-linked assurance schemes and REITs will be amended in parallel, with a 12-month transition for existing funds. Correction Oct 30, 2026: Document type changed from "Rule" to "Guidance"

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SFC approves first-ever secondary trading of tokenised public funds SFC · Oct 26, 2026 · Guidance · CryptoTopic evidence: 「The Securities and Futures Commission (SFC) has approved the world’s first secondary trading of tokenised public funds on an SFC-licensed virtual asset trading platform (VATP).」 The Hong Kong Securities and Futures Commission has approved the world's first secondary trading of tokenised public funds on a licensed virtual asset trading platform. Two authorised tokenised money market funds can now be traded around the clock. The SFC's April 2026 circular set out requirements covering trading operations, fair pricing, liquidity provision and disclosure. Correction Oct 30, 2026: Document type changed from "Rule" to "Guidance"

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SFC issues guidance to support enhancements to Hong Kong’s retail fund regime SFC · Oct 28, 2026 · GuidanceThe Securities and Futures Commission of Hong Kong published guidance to help fund managers prepare for the revised Code on Unit Trusts and Mutual Funds, which takes effect on 1 November 2026. The guidance includes circulars, FAQs and updated guides covering new fund authorisations, derivatives using the Value-at-Risk approach, liquidity risk management and money market fund requirements. Revised key facts statement templates were also published.

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SFC welcomes launch of Platform and Nominee Services on Integrated Fund Platform SFC · Oct 28, 2026 · GuidanceThe SFC welcomes HKEX's launch of Platform and Nominee Services on the Integrated Fund Platform (IFP). The new services let fund managers and distributors streamline operations and broaden participation in fund distribution. Fund subscriptions and redemptions by distributors, including brokers acting for their clients, became operational from the date of the announcement.

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New speech by Kelvin Wong: Keynote Remarks at IOSCO World Investor Week 2026 - Strike the Gong for Financial Literacy Event SFC · Oct 14, 2026 · SpeechSFC Chairman Dr Kelvin Wong gave a keynote speech at the IOSCO World Investor Week 2026 financial literacy event. He argued that social media and artificial intelligence make investment fraud harder to spot, and that education and experience do not necessarily prevent it. He proposed three habits to strengthen judgement: practise, pause and question, and said regulators, financial institutions and technology platforms also share responsibility for investor protection.

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SFC approves six securities registrars for upcoming uncertificated securities market regime SFC · Oct 13, 2026 · LicensingThe SFC approved six companies as approved securities registrars effective 16 November 2026, when the uncertificated securities market regime takes effect. Two of them are approved to provide USM-related services, and other applications will be reviewed later. Listed issuers must keep an approved registrar at all times, and existing issuers must join the regime within five years.

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SFC proceeds to strengthen targeted tools to tackle IPO-related and other corporate misconduct SFC · Oct 13, 2026 · GuidanceThe Securities and Futures Commission has published its consultation conclusions on strengthening targeted tools under the Securities and Futures (Stock Market Listing) Rules for IPO cases and post-IPO matters. The proposals received broad market support and are expected to take effect in the first quarter of 2027, subject to the legislative process. The amendments allow conditions on listing applicants that continue after listing, post-listing conditions as an alternative to immediate trading suspension, streamlined resumption procedures, and independent merits review through the Securities and Futures Appeals Tribunal."}}

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New speech by Julia Leung: Keynote address at ASIFMA’s Future of Liquidity in Asia Pacific Capital Markets Conference SFC · Oct 9, 2026 · SpeechSFC Chief Executive Julia Leung delivered a keynote speech titled "Project Liquidity: Engineering the Market Plumbing that Unlocks Capital Flows for Hong Kong" at the ASIFMA Future of Liquidity in Asia Pacific Capital Markets Conference. The speech is now posted on the SFC website.

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SFC hosts meeting of IOSCO’s Committee on Issuer Accounting, Audit and Disclosure SFC · Oct 9, 2026 · MeetingThe Hong Kong SFC hosted the plenary and subcommittee meetings of IOSCO's Committee on Issuer Accounting, Audit and Disclosure from 5 to 8 October 2026. More than 35 senior representatives from 21 securities regulators attended. They discussed modernising disclosure requirements to reduce listed companies' reporting burdens, developments in financial reporting and auditing, technology and AI, and private equity investment in audit firms.

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SFC, AFRC and the Exchange join forces to address disclaimers of opinion solely relating to going concern SFC · Oct 9, 2026 · GuidanceThe SFC, AFRC and Hong Kong Stock Exchange issued a joint statement on rising numbers of listed issuers publishing financial statements with disclaimers of opinion solely relating to going concern. It sets out expectations for management, audit committees and auditors. The regulators will keep monitoring and take appropriate actions, and the Exchange will consider amending the Listing Rules if no significant improvement is seen. The archived text and attachments run to about 28,563 characters; the summary is based only on the first 12,000. Check the original.

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Hong Kong’s securities brokers post strong earnings growth in first half of 2026 SFC · Oct 7, 2026 · ReportThe SFC's financial review of the securities industry reports that net profit rose 21% to HK$51.7 billion in the first half of 2026. Higher trading activity and client participation drove the increase. Brokers' total transaction value reached a record HK$149.0 trillion, and active clients numbered about 5.7 million. The archived text and attachments run to about 15,056 characters; the summary is based only on the first 12,000. Check the original.

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SFC, Securities Commission Malaysia announce Single Submission Arrangement to streamline simultaneous listings in Malaysia and Hong Kong SFC · Oct 1, 2026 · GuidanceThe SFC and Securities Commission Malaysia introduced a Single Submission Arrangement to simplify simultaneous listings in both markets. Applicants can use one listing document and one application to meet requirements in both places. Both regulators set up dedicated teams and coordinated review processes. The archived text and attachments run to about 57,812 characters; the summary is based only on the first 12,000. Check the original.

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SFC reprimands and fines Zheng Da International Financial Holding Limited $7 million and suspends its responsible officer for regulatory breaches SFC · Sep 29, 2026 · EnforcementThe Securities and Futures Commission reprimanded and fined Zheng Da International Financial Holding Limited $7 million for anti-money laundering and other breaches between 1 December 2021 and 30 September 2023. Its responsible officer, Zhong Hao, was suspended for seven months from 28 September 2026 to 27 April 2027. The SFC found the firm conducted no due diligence on customer-supplied trading systems and failed to properly monitor deposits and suspicious trading in client accounts.

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SFC shares updates with securities industry on scam prevention and cybersecurity SFC · Sep 29, 2026 · MeetingThe Securities and Futures Commission hosted a Brokers' Forum titled "Defend Your Business, Outsmart the Scammers" for over 600 industry participants. The forum covered the latest supervisory observations and regulatory updates on cybersecurity and anti-scam measures. Sessions included a panel discussion, a Hong Kong Police Force presentation on cyber resilience, and an SFC briefing on its anti-scam outreach initiatives.

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SFC and AFRC extend regulatory cooperation to financial reporting of licensed firms and funds under new MoU SFC · Sep 28, 2026 · Enforcement · CryptoTopic evidence: 「Licensed Firm means a licensed corporation as defined in section 1 of Part 1 of Schedule 1 to the SFO or a licensed VAS provider」 The Securities and Futures Commission and the Accounting and Financial Reporting Council signed a new Memorandum of Understanding expanding their cooperation beyond listed entities. It covers financial and compliance reporting by licensed corporations, licensed virtual asset service providers, authorised funds and registered open-ended fund companies, along with related audit work. The MoU sets out a framework for information sharing, case referrals, mutual assistance and coordinated inspections, and supersedes the 2021 MoU. The archived text and attachments run to about 31,157 characters; the summary is based only on the first 12,000. Check the original.

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New speech by Kelvin Wong: Remarks at SFC and Accounting and Financial Reporting Council’s MoU Signing Ceremony SFC · Sep 28, 2026 · SpeechKelvin Wong's speech traces the SFC's cooperation with the Accounting and Financial Reporting Council from the first MoU in 2007 through the enhanced MoU in 2021, a 2023 joint statement and joint enforcement work this year. The speech marks the signing of a modernised MoU and stresses that credible financial reporting and rigorous audit oversight underpin market confidence. It calls for sharing intelligence and expertise between the two regulators.

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SFC takes action against suspected IPO-rigging syndicates and suspends dealings in Baicha shares SFC · Oct 13, 2026 · EnforcementThe Hong Kong SFC has taken action against two groups suspected of fraudulent schemes creating a false appearance of demand for IPO shares. It directed the Stock Exchange to suspend trading in Sichuan Baicha Baidao Industrial Co. shares (stock code 02555) from 9:00 am today. Restriction notices were issued to brokers over assets linked to the suspected schemes, and investigations are continuing.

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SFC recognises progress in sponsors’ work and urges sustained vigilance SFC · Oct 13, 2026 · GuidanceThe Securities and Futures Commission (SFC) circular notes improved sponsor resources and principal capacity since January 2026. It urges sponsors and other IPO gatekeepers to guard against opaque arrangements that could inflate IPO demand or facilitate manipulative post-listing trading. The circular lists red flags and expects gatekeepers to make further enquiries, escalate concerns, and report matters where appropriate.

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New speech by Kelvin Wong: Remarks at the IFAPC’s 25th anniversary and Outstanding Listed Companies Award 2026 SFC · Oct 16, 2026 · SpeechDr Kelvin Wong delivered a speech on 16 October 2026 at the 25th anniversary celebration and award ceremony of the Hong Kong Institute of Financial Analysts and Professional Commentators Limited (IFAPC). Titled in Chinese only, the speech argues that analysts build market trust through research depth, independent judgement and continuous scrutiny. It also calls for candid disclosure by listed companies and for regulators, companies and analysts to each fulfil their roles.

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SFC welcomes HKEX’s proposal to implement T+1 settlement in Hong Kong’s stock market SFC · Oct 16, 2026 · SpeechThe SFC welcomed HKEX's Consultation Conclusions Paper, issued on 16 October 2026, on moving Hong Kong's stock market from a T+2 to a T+1 settlement cycle. After market feedback, the implementation timeline was revised to the second half of 2028, with September 2028 as the target date. The SFC will keep working with HKEX on the necessary rule amendments and implementation arrangements. The archived text and attachments run to about 185,688 characters; the summary is based only on the first 12,000. Check the original.

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SFC welcomes re-appointment of Non-Executive Directors SFC · Oct 16, 2026 · PersonnelThe Securities and Futures Commission welcomes the Financial Secretary's re-appointment of Keith Pogson and Chew Fook-aun as Non-Executive Directors for two-year terms starting 20 October 2026 and 1 January 2027, respectively. SFC Chairman Dr Kelvin Wong said their experience and judgement have contributed greatly to the Board's work and the SFC's governance. He added that he looks forward to working with them to uphold market integrity and protect investors.

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SFC commences MMT proceedings against GEM-listed Taste•Gourmet’s top executives and associates over alleged manipulation scheme for Main Board transfer SFC · Oct 22, 2026 · EnforcementThe Securities and Futures Commission has brought proceedings in the Market Misconduct Tribunal against three top executives and five relatives, employees and associates of Taste•Gourmet. The SFC alleges they coordinated trades to keep the share price around $1.32 between June and September 2020, to meet the Main Board market capitalisation requirement. The tribunal will determine whether market misconduct occurred and who was involved.

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HKSAR Government’s Fourth Digital Green Bonds Offering HKMA · Sep 29, 2026 · Enforcement · CryptoTopic evidence: 「The Digital Green Bonds were priced on 28 September as follows:」 The HKSAR Government announced on 29 September 2026 that it had priced around HK$20 billion of digital green bonds in HKD, RMB, USD and EUR under its Government Sustainable Bond Programme. The HKD tranche settles using tokenised deposits, and the issuance adopts ICMA's Bond Data Taxonomy version 2.01.

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Hong Kong Monetary Authority and Bank Negara Malaysia Strengthen Bilateral Cooperation HKMA · Oct 6, 2026 · Meeting · CryptoTopic evidence: 「Establish a joint policy-focused workstream to promote compliant cross-border stablecoin use cases between Hong Kong and Malaysia.」 The summary in this language did not pass the date and amount checks, so it is withheld. Check the original.