On November 6, the Hong Kong Securities and Futures Commission issued an advisory summary. The proposed amendments to further restrict unregulated institutions from using misleading names to protect investors were widely supported by the market. The Hong Kong Securities Regulatory Commission said that it will expand the list of restricted titles and establish a mechanism to update the list more quickly, and at the same time extend regulatory coverage to the field of virtual assets, reduce investors' misjudgments due to institutional names at the source, and consolidate the line of defense for investors. The consultation began in June 2025. A total of 9 submissions were received during the consultation period. Respondents generally supported expanding the current list of restricted titles under the Securities and Futures Regulations and agreed to introduce similar provisions under the Anti-Money Laundering and Terrorist Financing Regulations. The consultation concluded that the target of regulation is restricted titles, that is, specific terms such as “exchange” and “settlement platform” with regulatory implications; illegal institutions often embed such restricted titles into trade names, forming misleading names referred to by the Hong Kong Securities Regulatory Commission, causing retail investors to misunderstand that the institution is a licensed entity approved by the Hong Kong Securities Regulatory Commission.

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