Hong Kong

    Capital / Liquidity

    HKMA D-SIBs List Unchanged, HLA Requirement Adjusted for Two Banks

    By Editors | 28/12/2019

    Compared with the December 2018 list, the HLA requirement has increased for Standard Chartered and decreased for Hang Seng Bank.

    Fintech / Regtech

    HKMA Publishes Highlights from First AML/CFT RegTech Forum

    By Manesh Samtani | 27/12/2019

    Access to quality data and a more proactive knowledge sharing approach are critical to moving to intelligence-led methods in financial crime risk management.

    Securities / Derivatives

    HKEX to Shorten IPO Settlement to Single Day

    By Editors | 25/12/2019

    HKEX hopes to shorten Hong Kong’s five-day IPO settlement process to just one day by end-2020.

    Fintech / Regtech

    HKMA Publishes Report on AI Adoption by Hong Kong Banks

    By Manesh Samtani | 24/12/2019

    The lack of employees with AI expertise was cited by 70% of respondents as the top barrier to AI adoption, according to a survey.

    Enforcement

    SFC Fines Adamas Asset Management for Disclosure Failings

    By Editors | 24/12/2019

    The asset manager was fined HK$2.5mn for filing 339 incorrect or late notifiable interest disclosures to the SEHK and eight listed companies.

    AML / KYC

    SFC Proposes Enhancements to OFC Regime

    By Editors | 23/12/2019

    The changes include a mechanism for overseas corporate funds looking to re-domicile in Hong Kong. OFCs will also have to keep a register of beneficial shareholders.

    AML / KYC

    SFC, CSRC Set Date for Southbound Investor Identification Regime

    By Editors | 20/12/2019

    With technical preparations now complete at exchanges and clearinghouses, southbound trading investor identification regime is scheduled for implementation on 13 January.

    Capital / Liquidity

    HKMA Rebuts BOE Claim of Hong Kong Fund Outflows

    By Manesh Samtani | 19/12/2019

    The BOE said in its biannual Financial Stability Report that $5bn has left Hong Kong since April, but the HKMA says the figure does not represent outflows from the city’s banking system.

    Fintech / Regtech

    UPDATED – ZA Bank Becomes First HK Virtual Bank to Launch Pilot Services

    By Editors | 19/12/2019

    ZA Bank, backed by ZhongAn and Sinolink Group, has launched services for 2,000 selected users to test under the HKMA’s sandbox mechanism.

    Securities / Derivatives

    HKEX to Include Climate Risk Disclosures in ESG Framework

    By Manesh Samtani | 19/12/2019

    Listed companies will have to disclose climate-related issues on a ‘comply or explain’ basis, HKEX said in its conclusions from a May consultation to update its ESG reporting framework

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