Hong Kong

Chinese Regulators Announce Coronavirus Support Measures

By Manesh Samtani | 30/01/2020

PBOC has extended the Lunar New Year closure of financial markets until 3 February and vowed to inject liquidity into the markets when they reopen.

Capital / Liquidity

HKMA Maintains 2% CCyB Amid ‘Uncertain’ Environment

By Editors | 30/01/2020

HKMA chief Eddie Yue says it is appropriate to maintain the CCyB at 2.0% to allow more time to “observe the trend”.

Enforcement

SFC Suspends RHB Securities AE for Unauthorised Discretionary Trades

By Editors | 30/01/2020

The account executive conducted discretionary trades for a client account for almost two years without obtaining written authorisation.

Enforcement

SFC Launches Proceedings Against China Ding Yi Feng Manipulators

By Editors | 23/01/2020

On its first day of trading after a 10-month suspension, China Ding Yi Feng has lost 90% of its value, representing HKD 25 billion in lost market value.

Market Infrastructure

HKMA Consults on Contractual Stay Provisions in Financial Contracts

By Editors | 23/01/2020

FIs will have to adopt provisions in financial contracts binding counterparties to temporary stays on termination rights that may be imposed by the HKMA during bank resolution.

Fintech / Regtech

HKMA, BOT Announce Outcomes of Joint CBDC Research

By Editors | 23/01/2020

In 3Q 2019, eight Thai banks and two Hong Kong banks (HSBC and ZA Bank) participated in a THB-HKD cross-border corridor network PoC using a CBDC.

Fintech / Regtech

HKMA to Set Up ‘Digitalisation Office’ to Implement Transformation

By Editors | 22/01/2020

The progressive development of digitalisation initiatives will bring profound changes to how the HKMA works and further enhance its efficiency, says deputy chief Howard Lee.

Capital / Liquidity

HK Banks Pledge Continued Leniency for SME Borrowers

By Editors | 21/01/2020

At the second meeting of the Banking Sector SME Lending Coordination Mechanism, established in October, banks agreed to a number of additional measures to aid SME borrowers.

Securities / Derivatives

SFC Offers Brokers, Fund Managers Guidance on Risk Governance

By Editors | 21/01/2020

Senior management, including the board, responsible officers and MICs will be held accountable for the overall risk management control of their firms.