Hong Kong insurance companies and brokers from Wednesday are barred from paying excessive referral fees to unlicensed individuals, as the city’s insurance regulator bolsters efforts to curb misconduct and enhance customer protection. The city’s Insurance Authority has put a 50 per cent cap on commissions for referral fees in life insurance policies, a move that…
Hong Kong is accelerating reforms of its financial market by making the sector’s ecosystem more resilient and comprehensive, a minister has said, as the city grapples with geopolitics and a rapidly changing technology-led global landscape. Financial Secretary Paul Chan Mo-po also said on Sunday that Hong Kong would take a two-pronged approach by strengthening its…
Hong Kong unveiled a blueprint on Thursday for its fixed income and currency markets, including measures to expand offshore yuan products and liquidity to consolidate its role as an international financial hub. The Roadmap for the Development of Fixed Income and Currency (FIC) Markets, jointly unveiled by the Securities and Futures Commission (SFC) and the…
David Webb, a Hong Kong corporate governance activist who is battling terminal cancer, issued an open letter criticising Hong Kong fashion retailer Bauhaus International Holdings’ decision to buy a residential property instead of making a dividend payout. Webb holds more than 8 per cent of the company’s shares and is the second-largest shareholder after the…
Sales of non-listed investment products soared to a record last year in Hong Kong, as capital poured into mutual funds, debt and equity-lined financial products amid improving market sentiments, underscoring the city’s growth as a financial hub. As many as 1.2 million customers traded at least once on a product last year, 28 per cent…
Trading of BNB on OSL was strictly limited to institutional investors with a portfolio of at least HK$8 million (US$1.02 million), who are allowed to trade the token with US dollars as well as the world’s two largest stablecoins, USDT and USDC. In a post on X on Wednesday, Zhao – also known as CZ…
Yunfeng Financial Group, backed by Alibaba Group Holding founder Jack Ma, said it was investing in the cryptocurrency ether as part of its reserve assets, as the company expands into Web3 amid Hong Kong’s digital asset initiative. To date, Hong Kong-listed Yunfeng has invested US$44 million to acquire 10,000 ether for its “strategic reserve”, according…
A senior Hong Kong official and a lawmaker have withdrawn from a Bitcoin Asia conference where Eric Trump, son of United States President Donald Trump, will attend, with sources confirming they were advised not to interact with the American businessman. A check by the Post on the conference’s website on Wednesday found that Eric Yip…
A senior Hong Kong official and a lawmaker have withdrawn from a Bitcoin Asia 2025 conference where Eric Trump, son of United States President Donald Trump, will also attend, with sources confirming an instruction was issued that they were not to interact with the American businessman. A check by the Post on the conference’s website…
Hong Kong’s Stablecoins Ordinance marks a significant milestone, as cross-border payments using the cryptocurrency can facilitate trade-finance flows between Hong Kong, mainland China and global markets such as the Middle East, according to the CEO of Zand, an AI-powered fintech and financial-services group in the United Arab Emirates (UAE). Future development under the ordinance could…