The Hong Kong Securities and Futures Commission (SFC) and the Accounting and Financial Reporting Council (AFRC) signed a new Memorandum of Understanding on September 28, extending regulatory cooperation to cover licensed virtual asset service providers. The expanded agreement encompasses financial and compliance reporting for VASPs, licensed corporations, authorized funds, and registered open-ended fund companies, alongside related audit and assurance work. The two regulators established a comprehensive framework for information sharing, case referrals, mutual assistance, and coordinated inspections. This collaboration addresses matters of common regulatory concern and formalizes oversight mechanisms beyond the existing scope of listed entity financial reporting.