Hong Kong

Capital / Liquidity

HKMA Asks Local Banks to Study Latest Pillar 3 Requirements

By Editors | 19/12/2018

The HKMA advises banks to start considering the system changes necessary to implement the Basel Committee’s latest Pillar 3 disclosure requirements.

Capital / Liquidity

HKMA Issues Revised SPM for Local IRRBB Implementation

By Editors | 17/12/2018

Authorised institutions should be ready to measure and report IRRBB exposures using the new standardised framework by 1 July 2019.

Market Infrastructure

Hong Kong Faces Skills Shortage in Fintech, Cybersecurity – Survey

By Editors | 17/12/2018

Fintech and cybersecurity were viewed as the areas with the largest skills shortage, followed by a skills gap in regulatory and compliance knowledge.

AML / KYC

Stock Connect to Introduce Investor ID Regime for Southbound Trading

By Editors | 17/12/2018

Launched on 26 September for northbound trading, the investor identification regime will be introduced for southbound trading by the end of Q1 2019.

Market Infrastructure

Plans to Launch HK-China ETF Connect Put on Hold – Report

By Editors | 14/12/2018

Trading and settlement issues will require “a very long period of discussion” to resolve, according to SFC chairman Tim Lui, adding that the focus will shift to enabling ETF cross listings.

Securities / Derivatives

Hong Kong to Extend Profits Tax Exemption to Local PE, Hedge Funds

By Editors | 14/12/2018

Under the existing framework, non-retail funds domiciled in Hong Kong are not exempt from profits tax, unlike their offshore-domiciled counterparts.

AML / KYC

Hong Kong Not Obliged to Enforce US Sanctions – Report

By Editors | 13/12/2018

Hong Kong is not obliged to enforce unilateral sanctions imposed by individual jurisdictions including the US, a senior official said in regards to Huawei’s alleged dealings with Iran.

Market Infrastructure

SFC Concludes Consultation on Enhancements to OTC Derivatives Regime

By Editors | 13/12/2018

OTC derivatives participants will be subject to new risk mitigation requirements, as well as conduct requirements for dealings with group affiliates and related parties.

Capital / Liquidity

IMF Commends Hong Kong for Strong Buffers, Robust Policy Frameworks

By Manesh Samtani | 12/12/2018

Years of prudent macroeconomic policies and robust financial regulation and supervision will help Hong Kong weather possible domestic and external shocks, the IMF says.