WebA new licensing regime for virtual asset service providers ( VASPs) will come into effect on 1 March 2024 under proposed amendments to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (the AMLO) which were introduced to Hong Kong’s Legislative Council on 6 July 2024. 1 The proposed amendments are set out in the ... WebNew SFC requirements for client asset accounts with authorised institutions On 8 July 2024, the Securities and Futures Commission (SFC) published a circular (Circular) …
RBC fined HK$7.7m for mishandling client assets
Web1 day ago · Additionally, client funds are protected by comprehensive insurance in respect of HashKey PRO's wallet infrastructure (both cold and hot wallets), safeguarding client assets in the event of any ... WebAug 12, 2024 · The SFC states that, “such clauses are fundamentally incompatible with the requisite standard of protection afforded to client assets under the Code of Conduct.” As a result, the SFC has included a no-recourse clause … scrolling meter
Circular on Virtual Asset Futures Exchange Traded …
WebDec 8, 2024 · The SFC has discretion to impose a range of licensing conditions on a VASP licensee, including conditions relating to financial resources, risk management policies and procedures, management of client assets, virtual asset listing and trading policies, prevention of market manipulation and abusive activities, avoidance of conflicts of … WebFeb 28, 2024 · The Hong Kong Securities and Futures Commission (SFC) published on 20 February 2024 a consultation paper on the proposed regulatory requirements for operators of virtual asset trading platforms (VATPs) (the Consultation Paper). The consultation period will last until 31 March 2024. WebDec 19, 2024 · unauthorised transactions in client accounts and misappropriation of client assets. These cases revealed serious internal control deficiencies in key operational areas and inadequate management supervision of AEs by licensed corporations (LCs). 3. The SFC therefore conducted a circularisation exercise3 and a thematic review last scrolling microsoft edge