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AML / KYC
HKMA, Cyberport Host Third AML Regtech Lab
By Sanday Chongo Kabange | 25/11/2022
The HKMA says retail banks increased their identification and reporting of suspicious accounts and networks by 127 percent compared to a year ago.
Enforcement
HK Court Orders Investment Company to Compensate Clients
By Editors | 25/11/2022
The investment firm sold clients’ securities without authorisation, misappropriated the proceeds, and fabricated documents to conceal the transactions.
Market Infrastructure
Swap Connect Launch Facing Likely Delay – Report
By Editors | 25/11/2022
Opening China’s USD 5 trillion swap market to foreign investors will enable them to better manage interest rate risks arising from Chinese bond investments.
ESG / Sustainability
HKEX Carbon Marketplace ‘Well Received’ by Market
By Editors | 24/11/2022
In the four weeks since its launch, Core Climate has recorded more than 40 trades, representing around 400,000 tonnes of carbon credits.
Fintech / Regtech
ZA Bank, Wise Partner to Offer International Remittances
By Manesh Samtani | 24/11/2022
ZA Bank will offer a “hassle-free service to users, without worrying about any foreign exchange markup, hidden charges and transfer progress.”
Market Infrastructure
SFC Proposes Further Changes to Position Limit Regime
By Editors | 23/11/2022
The SFC proposes to expand the list of specified contracts and introduce an excess position limit regime for clearing participants.
Securities / Derivatives
HK Gazettes Bill to Promote Trading in Dual-Counter Stocks
By Editors | 21/11/2022
The bill, to be introduced for LegCo’s first reading on 30 November, will exempt market makers in dual-counter stocks from stamp duty.
Fintech / Regtech
HKMA Revises Guidance on Accessing CCRA Database via CDI
By Editors | 17/11/2022
Banks can access commercial credit reference agencies via the CDI to automate credit approval processes, reduce manual handling, and enhance operational efficiency.
Crypto / Digital Assets
Singapore and Hong Kong Regulators Address FTX Queries
By Editors | 15/11/2022
MAS said FTX is neither licensed nor exempt from licensing in Singapore. Hong Kong’s SFC said licensed fund managers’ exposure to FTX is “immaterial”.
Capital / Liquidity
HKMA Proposes Changes to Approach for Setting CCyB
By Editors | 14/11/2022
The HKMA proposes to maintain a Positive Neutral CCyB of 1 percent even when its primary indicators maybe signal a lower applicable CCyB.
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