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ESG / Sustainability
HKMA Issues Draft Guideline for Banks on Climate Risk Management
By Manesh Samtani | 21/07/2021
The guideline includes expectations on governance, strategy, risk management and disclosure. The HKMA plans to allow a 12-month period for implementation.
AML / KYC
SFC Sanctions Sino-Rich Responsible Officers Over AML Breaches
By Editors | 20/07/2021
Sino-Rich Securities & Futures was fined for AML breaches in March. Its CEO and another director have been deemed responsible.
AML / KYC
HK Customs Arrests Four for Laundering Funds Using Tether
By Sanday Chongo Kabange | 19/07/2021
The four are part of a syndicate that charged criminal clients a commission of 3-5% to launder illicit proceeds from crime.
AML / KYC
SFC Issues Warning on Unregulated Virtual Asset Platforms
By Editors | 18/07/2021
Soon after the SFC’s statement, Binance announced that stock tokens will no longer be available for purchase on its website.
Securities / Derivatives
China to Exempt Hong Kong IPOs from Cybersecurity Reviews
By Editors | 18/07/2021
Chinese officials have reportedly outlined an exemption from the requirement to undergo a cybersecurity review for companies destined for a Hong Kong IPO.
AML / KYC
US Government Warns Of Rising Business Risk in Hong Kong
By Editors | 18/07/2021
A business advisory from four US government agencies says US firms should be aware of the risks they face if they continue operating in Hong Kong.
Securities / Derivatives
HKMA Publishes Criteria for PE Funds Seeking Tax Concession
By Editors | 18/07/2021
A fund should have operating expenditure incurred in Hong Kong for the provision of investment management services amounting to at least HK$2mn.
Enforcement
Hong Kong Stock Exchange Issues Revised Enforcement Policy
By Matt Emsley | 16/07/2021
Herbert Smith Freehills partners explain the implications of the Hong Kong Stock Exchange’s updated policy statement on Listing Rule enforcement.
HKMA Announces Final Extension for Trade Loan Deferrals
By Manesh Samtani | 16/07/2021
Corporate customers can further extend their trade facilities for another 90 days until the end of October, when the scheme will expire.
ESG / Sustainability
Hong Kong Launches Centre for Green and Sustainable Finance
By Manesh Samtani | 15/07/2021
The Centre will serve as a cross-sector platform to coordinate the transition efforts and serve as a repository for resources, data and analytics.
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