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Enforcement
Hong Kong SFC Fines UBS Over Regulatory Breaches
By Editors | 03/08/2021
The breaches involve research report disclosures, telephone recordings, client derivatives knowledge assessments, and structured product sales.
Market Infrastructure
China, Hong Kong to Strengthen Legal, Judicial Cooperation
By Editors | 02/08/2021
China and Hong Kong will promote mutual recognition and assistance in bankruptcy procedures. Mainland judicial practice training will be arranged for Hong Kong legal professionals.
Sanctions
State Street Updates TraHK Prospectus as US Sanctions Take Effect
By Sanday Chongo Kabange | 01/08/2021
In an addendum, State Street says TraHK units will not be offered or sold in the US or to US persons located outside the US.
Market Infrastructure
HKMA Updates Guidance on Bank Remuneration Systems
By Manesh Samtani | 30/07/2021
Banks are expected to review their remuneration systems and adopt all necessary changes by 1 January 2022, the HKMA says.
AML / KYC
HKMA Issues Guide for Regtech Adoption in Customer Monitoring
By Manesh Samtani | 27/07/2021
The Guide will help banks assess whether they have the appropriate governance, controls, skills, infrastructure and underlying data to adopt Regtech solutions in ongoing monitoring of customers.
AML / KYC
SFC Calls on Industry to Report Suspected Ramp-and-dump Activity
By Manesh Samtani | 26/07/2021
Ramp-and-dump scams now account for about half of the market manipulation cases being investigated by the SFC. Overseas investors also being targeted.
Market Infrastructure
Hong Kong Introduces Bill to Boost FRC’s Regulatory Powers
By Sanday Chongo Kabange | 25/07/2021
Under the proposed regime, regulatory powers currently vested with the HKICPA will be transferred to the Financial Reporting Council.
Fintech / Regtech
HKMA Launches Commercial Data Interchange Innovation Hub
By Editors | 23/07/2021
The Hub will further facilitate the development and adoption of the CDI by helping to match potential data providers and data users.
AML / KYC
HKMA Targets Effectiveness in Addressing AML, Fraud risk
By Manesh Samtani | 22/07/2021
HKMA Executive Director Carmen Chu highlights the need for transformation and collaboration to combat new AML and fraud challenges in the digital era.
Capital / Liquidity
HKMA Revises Policy Manual on Bank Group Supervision
By Editors | 21/07/2021
The SPM module was revised to reflect the current supervisory approach and practices adopted by the HKMA and to incorporate international standards.
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