Hong Kong

Market Infrastructure

SFC Launches ‘Key Risk Indicator’ Reporting Platform

By Editors | 02/09/2019

Initially, licensed corporations of 22 global FIs will have to submit data relating to their operations, conduct issues and prudential risk exposures on a monthly, quarterly and yearly basis.

Capital / Liquidity

HKMA Allows Lenders to Expand Use of Tech in Retail Lending

By Editors | 30/08/2019

The HKMA is allowing lenders to further develop business involving the use of innovative financial technology to assess and approve personal loan applications.

Capital / Liquidity

HKMA Introduces New Liquidity Facilities for Banks

By Manesh Samtani | 27/08/2019

The updated Liquidity Facilities Framework is part of ongoing work to maintain the integrity and stability of Hong Kong’s monetary and financial systems, said HKMA chief Norman Chan.

AML / KYC

HKMA Issues Clarification on Non-Face-to-Face Onboarding

By Editors | 24/08/2019

In line with SFC requirements, the HKMA says banks need not re-verify a client’s identity when opening an investment account if they’ve already done so for bank account opening.

Market Infrastructure

SFC Highlights Liquidity Risk Management Deficiencies at Funds

By Editors | 24/08/2019

The SFC asks fund managers to review their current policies, procedures, systems and processes and take immediate action to rectify any inadequacies or deficiencies.

Enforcement

HK Court Orders Confiscation of HK$1.46m from Former UBS Exec

By Editors | 21/08/2019

The case relates to the 2017 conviction of a former UBS associate director for accepting over HK$1.4mn in bribes from a Shenzhen-based client.

Enforcement

SFC, ICAC Formalise Cooperation Arrangement with MoU

By Editors | 20/08/2019

The MoU covers case referrals, joint investigations, the exchange and use of information, mutual provision of investigative assistance, and capacity building.

Capital / Liquidity

HKMA Adjusts Initial Margin Implementation Schedule

By Editors | 19/08/2019

The HKMA has adjusted its implementation schedule for the incoming requirements, taking into account the one-year phased extension announced by BCBS and IOSCO in July.

Securities / Derivatives

HKEX Proposes Changes to Pre-Open Session, Volatility Controls

By Editors | 19/08/2019

The proposals aim to improve market liquidity and global competitiveness of the Hong Kong market, HKEX says in a new consultation paper.