Hong Kong

Capital / Liquidity

Stable Outlook For HK Banks Amid Steady Economic Growth – Moody’s

By Garima Chitkara | 04/09/2018

A benign economic environment will support Hong Kong bank profitability and asset quality. However, increasing interest rates in the US could tighten bank liquidity.

Fintech / Regtech

HKMA Receives 29 Bids for First Round of Virtual Bank Licences

By Garima Chitkara | 03/09/2018

Standard Chartered, WeLab, Zhong An Bank and HKT among several banking, technology and telecom firms applying for virtual banking licenses.

AML / KYC

SFC Urges Licensed Firms To Strengthen AML/CFT Measures

By Editors | 03/09/2018

Hong Kong firms need to step up AML/CFT compliance keeping in mind deficiencies and gaps found during the regulator’s thematic reviews and on-site exceptions.

Capital / Liquidity

HKMA to Exempt Overseas Incorporated Banks from IRRBB Framework

By Editors | 03/09/2018

Central bank to exempt institutions incorporated overseas from new local IRRBB framework in cases where parent group is not additionally represented in Hong Kong through a locally incorporated institution.

Fintech / Regtech

The Future of Equity Crowdfunding in Hong Kong

By Kristi Swartz | 29/08/2018

Equity crowdfunding may not have specific regulations in Hong Kong, but it is potentially subject to restrictions and barriers to entry under existing rules. Yet, there is room to work alongside regulators to develop and test new products in this market.

Securities / Derivatives

HK-China Bond Connect Enables DvP Settlement

By Editors | 27/08/2018

A key demand from international investors, a real-time delivery-versus-payment settlement system has now been implemented on the Bond Connect.

AML / KYC

HKEX Unveils Details of New Northbound Investor ID Regime

By Garima Chitkara | 27/08/2018

HKEX to launch secure file transfer protocol service for exchange participants later this month to ensure smooth transition to new investor ID regime for northbound trading, set for 17 September.

Enforcement

EY, Two Partners Fined for Audit Failures on 20-Year Old Stock Listings

By Garima Chitkara | 27/08/2018

EY and two of its partners were collectively fined HK$700,000 plus HK$1.5mn in legal costs for failing to properly audit the financial statements of three firms that went bust soon after being listed.

Enforcement

Hong Kong Forex Broker Fined for Mishandling Client Money

By Editors | 23/08/2018

HPI Forex Limited transferred client money from segregated client account to two overseas brokers, breaching the Code of Conduct and the SFC’s client money rules.