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Capital / Liquidity
SFC Fines Hedge Fund Manager for Liquid Capital Deficit
By Editors | 31/07/2022
KTF Capital Management had a HK$20mn deficit between 13 and 18 December 2018 but misrepresented to the SFC that it maintained sufficient liquid capital during the period.
Market Infrastructure
HKMA Directs Banks to Ensure Resiliency of Payment Operations
By Manesh Samtani | 31/07/2022
Payment-related operational incidents have impacted banks, their customers, as well as other financial institutions, including in the securities sector.
Securities / Derivatives
HKEX Finalises Revisions to Position Limits for SSO, SSF
By Editors | 29/07/2022
HKEX has confirmed plans to widen its position limit rules covering single stock options and futures and its flagship mini contracts.
Market Infrastructure
HKMA Gives Banks 18m to Enhance Operational Risk Management
By Manesh Samtani | 26/07/2022
Banks are expected to implement the revised SPM module on operational risk management by 25 January 2024.
Securities / Derivatives
SFC Fines Fourth Broker Over Use of ‘Xinguanjia’ Trading Software
By Manesh Samtani | 26/07/2022
The software enabled Mainland investors to trade in Hong Kong without having to open a local securities account. Rifa Futures was fined HKD 9 million for AML and other failures.
Capital / Liquidity
HKMA Finalises Guidance on Resolution Planning Expectations
By Editors | 26/07/2022
Resolution planning work will be prioritised for D-SIBs and other locally incorporated banks with total consolidated assets of more than HKD 150 billion.
Crypto / Digital Assets
Hong Kong as a Legal Centre of Excellence for Digital Finance
By Troy Song | 25/07/2022
Many crypto exchanges and institutions already choose Hong Kong as the place to resolve their disputes, but more need to be done, says Troy Song.
Market Infrastructure
HKMA Further Enhances RMB Liquidity Facility
By Editors | 25/07/2022
The enhancements will increase the size of the RMB Liquidity Facility, streamline its operation, and reduce the rates applicable to overnight repo.
AML / KYC
HKMA, Cyberport Jointly Promote Use of AML RegTech
By Editors | 22/07/2022
HKMA, Cyberport and Deloitte co-organised the second AMLab, focusing on low-barrier technologies such as RPA and visualisation tools.
Mortgage Refinancing Transactions Made Safer in Hong Kong
By Editors | 21/07/2022
Under the new PAPT mechanism, mortgage refinance proceeds can be transferred directly from one bank to another rather than via a law firm.
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