HONG KONG MONETARY AUTHORITY

AML / KYC

HKMA Asks Banks, SVFs to Assess AML/CFT Risks of VASP Dealings

By Editors | 17/12/2019

Authorised institutions and SVF licensees should conduct appropriate risk assessments to differentiate the risks of the individual virtual asset service providers they deal with, the HKMA says.

Capital / Liquidity

HKMA Defends Against Rumours of Hong Kong Stability Risks

By Manesh Samtani | 12/12/2019

The HKMA has not seen any large-scale outflow of funds from Hong Kong and the banking system had sufficient capital and liquidity to withstand any impact.

Securities / Derivatives

SFC, HKMA to Launch New Survey to Assess Product Selling Risks

By Editors | 10/12/2019

The survey will help the SFC and HKMA identify risks associated with the selling activities of intermediaries and coordinate their responses to address areas of common concern.

Capital / Liquidity

Hong Kong Introduces New Loan Guarantee Scheme for SMEs

By Editors | 10/12/2019

LegCo has approved HK$33bn in funding to provide 90% guarantees on approved loans taken out by eligible enterprises and professionals seeking to set up their own practices.

AML / KYC

IMF Commends Hong Kong’s Financial System Resilience

By Garima Chitkara | 05/12/2019

The IMF also came out in support of the government’s policies to boost the economy, safeguard financial stability, and combat money laundering and terrorism financing.

ESG / Sustainability

Why the HKMA is Taking ESG Investing Seriously

By AsianInvestor | 26/11/2019

The head of risk for the de-facto central bank’s investment portfolio explains why it is implementing ESG principles into its investing practices.

Capital / Liquidity

Significant Variation Among Banks in HKFRS 9 Reporting – Study

By Manesh Samtani | 26/11/2019

Only some banks have been able to fully address the HKFRS 9 financial disclosure requirements, according to a new study from Mazars Hong Kong.

Securities / Derivatives

HKMA Warns FIs Against Churning Investment Funds for Clients

By Manesh Samtani | 25/11/2019

The HKMA has issued new guidance aimed at preventing, detecting and mitigating misconduct risks at financial institutions in the selling of investment funds.

Market Infrastructure

MAS, ABS Conclude 6th Crisis Response Testing Exercise

By Editors | 23/11/2019

‘Exercise Raffles’ brought together the public and private sectors – including the FS-ISAC, HKMA, CSA, SGX, SWIFT and FIS Global – to test cyber and operational disruption response capabilities.