Hong Kong Monetary Authority

AML / KYC

HKMA Targets Effectiveness in Addressing AML, Fraud risk

By Manesh Samtani | 22/07/2021

HKMA Executive Director Carmen Chu highlights the need for transformation and collaboration to combat new AML and fraud challenges in the digital era.

Capital / Liquidity

HKMA Revises Policy Manual on Bank Group Supervision

By Editors | 21/07/2021

The SPM module was revised to reflect the current supervisory approach and practices adopted by the HKMA and to incorporate international standards.

ESG / Sustainability

HKMA Issues Draft Guideline for Banks on Climate Risk Management

By Manesh Samtani | 21/07/2021

The guideline includes expectations on governance, strategy, risk management and disclosure. The HKMA plans to allow a 12-month period for implementation.

Securities / Derivatives

HKMA Publishes Criteria for PE Funds Seeking Tax Concession

By Editors | 18/07/2021

A fund should have operating expenditure incurred in Hong Kong for the provision of investment management services amounting to at least HK$2mn.

HKMA Announces Final Extension for Trade Loan Deferrals

By Manesh Samtani | 16/07/2021

Corporate customers can further extend their trade facilities for another 90 days until the end of October, when the scheme will expire.

ESG / Sustainability

Hong Kong Launches Centre for Green and Sustainable Finance

By Manesh Samtani | 15/07/2021

The Centre will serve as a cross-sector platform to coordinate the transition efforts and serve as a repository for resources, data and analytics.

Market Infrastructure

HKMA Asks Banks to Bolster Corporate Awareness of LIBOR Cessation

By Editors | 13/07/2021

Banks are asked to distribute a leaflet to all corporate customers by 31 July 2021 and to send confirmation to the HKMA after the exercise is complete.

AML / KYC

HKMA Launches Campaign to Raise Awareness of Phishing

By Sanday Chongo Kabange | 08/07/2021

HKMA statistics show that phishing frauds in the first six months of 2021 were up 145% from the first half of 2020.

HKMA Issues SPM on Supervision of Banks’ Insurance Business

By Editors | 01/07/2021

The HKMA’s enforcement standards with respect to insurance intermediary business of banks mirror those adopted by the IA.