Hong Kong Regulation of Virtual Asset Trading Platforms
The webinar extensively covered key aspects of financial regulations and compliance, offering detailed insights into licensing regimes governed by the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, as well as the Securities and Futures Ordinance. Important definitions, including the Chapter 18A suitability requirement outlined in the Guide for New Listing Applicants, were thoroughly discussed.
A comprehensive overview of the regulatory requirements for operators of virtual asset trading platforms (VATPs) was provided. The session included an in-depth examination of the VATP licensing application process, outlining the relevant licensing conditions that operators must meet. The webinar also addressed the provision of virtual asset trading services to retail investors and highlighted activities that are prohibited in this context.
Detailed insights into the obligations of VATPs were shared, covering critical areas such as suitability, disclosure practices, client asset management, as well as requirements concerning insurance and compensation. The session also focused on Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) obligations, emphasizing the ongoing responsibilities that VATPs must fulfill to comply with regulatory standards.
Moreover, the webinar explored market misconduct offences and provided valuable insights into warnings issued by the Securities and Futures Commission (SFC).