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Market Infrastructure
HK Clearinghouses Ask Participants to Review Operational Procedures
By Sanday Chongo Kabange | 13/02/2022
Participants are warned that failure to adhere to the settlement timelines stipulated by the clearinghouses would constitute an event of default, which could result in disciplinary actions.
AML / KYC
HK Gov Issues Discussion Paper on Proposed VASP Regime
By Manesh Samtani | 11/02/2022
Licensing will be available to companies incorporated elsewhere as long as they have a registration in Hong Kong.
HKMA Further Extends Initiative to Nurture Banking Sector Talent
By Editors | 09/02/2022
The Banking Talent Programme provides fresh grads with short-term work opportunities and professional training, partly subsidised by the HKMA.
Securities / Derivatives
HKEX Calls for Improved Transparency in Annual Reports
By Editors | 02/02/2022
HKEX has referred cases to the SFC involving newly listed issuers entering investments or arrangements with the professional parties who helped them list.
AML / KYC
Preparatory Work to Implement Basel III is Progressing: HKMA
By Editors | 01/02/2022
The HKMA will submit legislative amendments in early 2023 to implement the Basel III final reforms, which will take effect from 1 July 2023.
AML / KYC
HKMA, SFC Allow Intermediaries to Offer Crypto Services
By Manesh Samtani | 31/01/2022
Authorised institutions and licensed corporations wishing to offer virtual asset dealing services can do so only by partnering with SFC-licensed trading platforms.
Enforcement
SFC Fines Citigroup Asia Unit for Client Facilitation Misconduct
By Editors | 28/01/2022
Deceptive practices were deployed at the expense of clients’ best interest and to the detriment of market integrity, said SFC chief Ashley Alder.
Market Infrastructure
HKMA Unveils Plans to Link eTradeConnect, CDI, mBridge
By Manesh Samtani | 28/01/2022
HKMA’s Eddie Yue said the combined power of the three infrastructures will pave the way for digitalising cross-border trade across APAC.
Market Infrastructure
Five More HK Banks Approved to Launch WMC Services
By Editors | 28/01/2022
Chiyu Banking Corporation, Chong Hing Bank, Fubon Bank, Shanghai Commercial Bank, and China Everbright Bank can launch WMC services.
Fintech / Regtech
Virtual Banking and Consent-based Data Governance
By Manesh Samtani | 27/01/2022
New BIS paper says consent-based data governance systems with low transaction costs are key to promoting the development of virtual banking worldwide.
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