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Market Infrastructure
HKMA, PBOC Collaborate on Cross Border Financial Services – Report
By Editors | 20/02/2019
As part of a plan to develop the Greater Bay Area, the HKMA and PBOC are reportedly planning to work together on the introduction of cross-border mobile payments and other financial services.
AML / KYC
SFC Fines Guosen Securities $1.94mn for AML Breaches
By Editors | 19/02/2019
The Hong Kong unit of Guosen Securities failed to make enquiries into or report thousands of suspicious third party deposits.
AML / KYC
HKMA’s Regulatory Expectations of Remote Customer On-boarding
By Editors | 05/02/2019
Remote onboarding technology should be able to authenticate customer identities through document image acquisition and “incontrovertibly” link identities through biometrics.
Securities / Derivatives
UPDATED – Hong Kong SFC Revamps Licensing Processes
By Editors | 04/02/2019
The move is aimed at halting “rolling bad apples” in their tracks by requiring firms to provide the SFC with details about employee departures, says Herbert Smith Freehills.
Market Infrastructure
JPM Asset Management Approved to Sell HK Funds in China
By Editors | 30/01/2019
Two of JPMorgan’s Hong Kong funds have been approved for distribution in China under the Mutual Recognition of Funds scheme.
Market Infrastructure
Hong Kong Seeks Market Views on Paperless Securities Market
By Editors | 29/01/2019
Hong Kong is seeking industry feedback on plans to introduce new systems for a paperless securities market to enhance global competitiveness and increase market efficiency.
Big Picture
IMF Commends Hong Kong for Robust Financial Regulation and Supervision
By Editors | 28/01/2019
The IMF has assessed that robust financial regulation and supervision should help Hong Kong weather domestic and external shocks despite growing risks to the city’s outlook.
Securities / Derivatives
HKEX Seeks Faster Time-to-Market for IPOs
By Editors | 28/01/2019
The exchange is considering shortening the time it takes to price new shares and to bring pricing closer to the market trading, to address concerns that stocks tend to fall sharply after listing.
Market Infrastructure
HKEX Enables Central Clearing for Deliverable FX Forwards, Swaps
By Manesh Samtani | 25/01/2019
Enabled by Traiana infrastructure, HKEX OTC Clear is offering the first clearing service for deliverable FX forwards and swaps in the USD/CNH and USD/HKD currency pairs.
Capital / Liquidity
HKMA Asks Banks to Start Working on FRTB Implementation
By Editors | 21/01/2019
The HKMA circular follows last week’s publication of new minimum capital requirements for market risk by the Basel Committee on Banking Supervision.
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