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ARTICLE · 28 JANUARY 2026

Hong Kong Authorities Escalate Coordinated Action On Market Misconduct, Cyber Risks And Virtual Asset Fraud

A&O Shearman
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Hong Kong's regulators are active, coordinated, and increasingly expectations‑driven. Businesses should be prepared for assertive use of statutory powers...

Hong KongTechnology
Matt Bower
Matt Bower
Melody Chan
Melody Chan
Jeffrey Huang
Jeffrey Huang
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Hong Kong's regulators are active, coordinated, and increasingly expectations‑driven. Businesses should be prepared for assertive use of statutory powers, higher standards on governance and documentation, and closer scrutiny of individual accountability.

2025 saw sustained, high‑impact enforcement in Hong Kong, with the Securities and Futures Commission (SFC) prioritizing insider dealing, market manipulation and unlicensed activities, and deploying injunctions and criminal prosecutions to protect market integrity.

Enforcement leadership transition at the SFC entails continued emphasis on streamlined but focused investigations. Collaboration between authorities deepened, as evidenced by the SFC's joint operation with the Independent Commission Against Corruption (ICAC) to combat corrupt activities and collaboration with the Stock Exchange of Hong Kong Limited (HKEX) to secure disciplinary outcomes against listed companies and management.

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