Svmuu News: The Hong Kong Securities and Futures Professionals Association reported that Yip Chi-hang, Executive Director of the Intermediaries Department at the Hong Kong Securities and Futures Commission, Chen Haolian, Deputy Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region, and other regulatory representatives held a meeting to discuss several specific policy changes, including: the removal of the previous 10% minimum threshold exemption for virtual asset asset management, as well as arrangements such as the immediate implementation of new regulations without a transition period.
In addition, the SFC stated that it has communicated with the Hong Kong Securities and Investment Institute (HKSI) and will, in the future, separate the examinations and courses for virtual asset platform practitioners, while reducing examination fees to align with the current fees for exams such as Paper 2 and Paper 3. The Hong Kong Securities and Futures Association also called for a clear demarcation between technology services and regulated activities, recommending that the SFC establish a clearer approval timeline and a phased reference framework. (Sing Tao Daily)