Hong Kong

Fintech / Regtech

HKMA Issues Regtech Guide on Protecting Customer Data

By Editors | 10/05/2023

The guide offers implementation advice for using Regtech solutions to enhance customer privacy protection and streamline data processing operations.

Hong Kong Passes Bill to Grant Tax Incentives to Family Offices

By Editors | 10/05/2023

The tax concession will be applicable to any years of assessment commencing on or after 1 April 2022.

AML / KYC

HK Police Launch Advisory Panel to Help Combat Cybercrime

By Editors | 09/05/2023

The panel members will share recent technological developments, information on potential threats, and practical advice on police technologies.

AML / KYC

HKMA Calls for Broader Adoption of Network Analytics by Banks

By Manesh Samtani | 09/05/2023

Around 60 percent of retail banks in Hong Kong are now deploying network analytics. Some are using this capability to file “super STRs”.

AML / KYC

HK Companies Registry Issues AML Guidance for TCSP Licensees

By Editors | 09/05/2023

New guideline seeks to help trust or company service providers devise and implement policies, procedures and controls for AML/CTF.

Capital / Liquidity

Hong Kong Financial System Remains Resilient: IMF Staff

By Editors | 07/05/2023

IMF staff said credit risk will “likely continue to materialise”, and banks should properly recognise and provision for credit losses, including those from Mainland property exposures.

Market Infrastructure

Regulators Announce 15 May Launch Date for Swap Connect

By Editors | 06/05/2023

Swap Connect will allow overseas investors to trade in Mainland interest rate swap contracts on CFETS via Tradeweb and Bloomberg.

Capital / Liquidity

Capital Has Not Left Hong Kong’s Financial System: HKMA

By Manesh Samtani | 04/05/2023

Deposits at Hong Kong banks grew by 1.4% in the year ending March 2023, despite some outflows from HKD assets in response to interest rate differentials.

Hong Kong Mandatory Reference Checking Regime Now in Force

By Editors | 04/05/2023

The regime requires banks to conduct mandatory reference checks to fill specified positions, to address the issue of ‘rolling bad apples’.