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HK to Maintain Covid Restrictions Despite Plea from FIs – Report
By Editors | 27/10/2021
A government spokesperson reportedly said the city continue to strive to reach ‘zero infection’ and the top priority remains reopening travel to the mainland.
Fintech / Regtech
HKMA to Bolster Regtech Talent Through New Skills Framework
By Manesh Samtani | 25/10/2021
The HKMA will launch a new ECF on Fintech by year-end. It will incorporate a set of competency standards and training curriculum that apply to regtech practitioners.
ESG / Sustainability
HK Financial Sector Calls for Easing of Covid Restrictions
By Sanday Chongo Kabange | 25/10/2021
Nearly half of surveyed FIs are considering moving staff or functions away from Hong Kong due to operational challenges, including travel and quarantine uncertainty.
Securities / Derivatives
HKMA Amends Requirements on Share Margin Financing
By Sanday Chongo Kabange | 25/10/2021
The HKMA says continued enforcement of the requirement to observe market norms in the setting of maximum LTV ratios is no longer appropriate.
AML / KYC
HKMA, SFC Issue FAQ on ‘Offence Related Property’ Under NSL
By Editors | 25/10/2021
FIs “must” disclose to the JFIU property held by persons charged for offences under the National Security Law regardless of the portion of shareholdings.
Fintech / Regtech
HKMA, PBOC Agree to Link Regulatory Sandbox Across Borders
By Mark Johnston | 22/10/2021
The arrangement will facilitate cross-border financial innovation in the Greater Bay Area and strengthen supervisory exchanges.
Enforcement
Appeals Tribunal Affirms SFC Punishment of Yi Shun Da Capital
By Sanday Chongo Kabange | 21/10/2021
The Appeals Tribunal upheld the SFC’s decision to punish Yi Shun Da Capital over sponsor failures but reduced the penalty amount.
Market Infrastructure
19 Hong Kong Banks Approved to Participate in Wealth Connect
By Manesh Samtani | 19/10/2021
Citibank, Hang Seng Bank, HSBC, ICBC, and Standard Chartered are among those that will participate in both the southbound and northbound schemes.
Securities / Derivatives
HKEX Launches First China A-Share Futures Contract
By Editors | 18/10/2021
The contract is based on the MSCI China A 50 Connect Index, which tracks the performance of 50 key Shanghai and Shenzhen stocks available via Stock Connect.
Enforcement
HK Court Jails Former Convoy, Gransing Executives
By Editors | 17/10/2021
Former Convoy executives conspired to dishonestly arrange for bond placement commissions to be diverted to a company they substantially owned.
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