HONG KONG

Market Infrastructure

Hong Kong Completes Transition to Multiple CRA Operating Model

By Editors | 26/11/2024

The migration of consumer credit reference services to “Credit Data Smart” was completed on 24 November. HKMA welcomed the “milestone”.

ESG / Sustainability

SFC Sets Expectations on Due Diligence on ESG Service Providers

By Manesh Samtani | 26/11/2024

Asset managers should “reasonably understand the ESG products provided by the third-party ESG service providers”.

Securities / Derivatives

Hong Kong Connectivity With Mainland Set to Increase

By Manesh Samtani | 25/11/2024

China Vice-Premier He Lifeng, CSRC Chairman Wu Qing and HKMA Chief Eddie Yue discussed new initiatives at the Global Financial Leaders’ Investment Summit.

Crypto / Digital Assets

ZA Bank Launches Crypto Trading Services for Retail Clients

By Sanday Chongo Kabange | 25/11/2024

Leveraging a partnership with HashKey Exchange, ZA Bank has become the first bank in Asia to offer virtual asset trading services to retail users.

Sanctions

US State Department “Taking Steps” to Sanction Hong Kong Officials

By Editors | 25/11/2024

The move is a response to the jailing of 45 pro-democracy advocates. China has vowed to take “firm countermeasures” if the sanctions come to pass.

Market Infrastructure

China’s TC260 Issues Guidelines on GBA Personal Data Flows

By Editors | 23/11/2024

The guidelines set requirements for information processors and recipients in Mainland China and Hong Kong to ensure secure cross-border flow of personal information.

ESG / Sustainability

HKMA Launches ‘Professional Level’ ECF for Sustainable Finance

By Sanday Chongo Kabange | 23/11/2024

The “Professional Level” of the ECF-GSF aims to help mid- and senior-level bankers develop professional competencies in Green and Sustainable Finance.

Capital / Liquidity

HKMA Shares Good Practices to Support Basel III Implementation

By Manesh Samtani | 22/11/2024

The HKMA encourages banks to maintain their momentum as the 1 January 2025 implementation date for certain aspects of Basel III approaches.

Enforcement

SFC Suspends Former Yuanta Securities Licensee for 26 Months

By Mark Johnston | 22/11/2024

The former licensee had a secret profit-sharing agreement with a client, failed to disclose personal dealings, and made false representations to the SFC.