Hong Kong

Capital / Liquidity

Amended Bank Liquidity Rules to Take Effect 1 Jan: HKMA

By Manesh Samtani | 01/07/2019

The amendments expand the scope of HQLA recognisable as “level 2B assets” under the LCR and introduce a 5% stable funding requirement on total derivative liabilities under the NSFR.

Securities / Derivatives

Hong Kong Finalises List of FSPs Under Clearing Obligation

By Editors | 01/07/2019

The list of Financial Services Providers identifies major dealers outside Hong Kong that are under the clearing obligation.

AML / KYC

Hong Kong Welcomes FATF ‘Overall Compliant’ Result

By Manesh Samtani | 01/07/2019

According to a government statement, Hong Kong was found to be particularly effective in the areas of risk identification, law enforcement, asset recovery, counter-terrorist financing and international co-operation.

AML / KYC

SFC Enables Technology Approach for Overseas Client Onboarding

By Manesh Samtani | 01/07/2019

From 5 July, intermediaries can access embedded data in client identity documents for onboarding. Captured biometric data such as a facial image can be used for identity verification.

Market Infrastructure

JBA Responds to Hong Kong OTC Derivatives Consultation

By Editors | 28/06/2019

The Japanese Bankers Association asks the HKMA and SFC to develop rules that automatically assign the UTI generation responsibility, rather than rely on bilateral agreement between counterparties.

Enforcement

HKEX Official Arrested in ICAC-SFC Joint Operation

By Editors | 27/06/2019

The ICAC has arrested the former joint head of IPO vetting for HKEX, and two others, for “suspected corruption and misconduct” in relation to the vetting of listing applications.

Securities / Derivatives

SFC Orders Freezing of More Assets Linked to Manipulation Case

By Editors | 26/06/2019

The SFC has ordered more brokers to stop dealing with and processing assets linked to suspected market manipulation of Ding Yi Feng shares.

Capital / Liquidity

HKMA Rules on Bank Exposure Limits to Take Effect From 1 July

By Editors | 25/06/2019

Under the rules, authorised institutions are subject to a statutory limit of 25% of capital on financial exposure to any one person or group of related persons.

Securities / Derivatives

Stock Connect Investors Gain Access to Onshore Yuan Rates

By Editors | 24/06/2019

Under the new arrangement, northbound Stock Connect investors will be able to hedge yuan exposures using the onshore exchange rate for the first time.