Hong Kong Monetary Authority

Capital / Liquidity

Here’s Sand in Your Eye

By Karen Chiu | 26/10/2017

**Why fintech (financial technology) sandboxes aren’t necessarily the child’s play they’ve been made out to be by banks and disrupters alike.
**

Market Infrastructure

10,000 Individuals Register Under Hong Kong MIC Regime

By Editors | 19/10/2017

About 40% of individuals to have registered under MIC so far are unlicensed as they are in charge of operations or control functions, SFC says.

Capital / Liquidity

HK Legco to Consider Recovery Planning, Large Exposures Bill

By Editors | 19/10/2017

Banking Ordinance already includes resolution, but not recovery, requirements; HKMA to retain ‘general power’ on exposure limits.

AML / KYC

FIs No Longer Have to Verify Client Addresses for AML/CTF – HKMA

By Editors | 12/10/2017

AML/CTF regulations to be changed; banking regulator says any current absence of address verification will be seen as justified.

AML / KYC

HKMA Launches Smart Banking Initiative Including Enhanced Sandbox

By Samuel Riding | 29/09/2017

In addition to the enhanced sandbox, HKMA will also work on a new payment system, minimising regulatory friction in onboarding and other services.

Capital / Liquidity

Hong Kong Belatedly Joins Singapore in Pushing Back IRRBB

By Editors | 28/09/2017

Implementation delayed by a year as firms say they might not have met original deadline due to having to make substantial changes to reporting systems.

Fintech / Regtech

Hong Kong Monetary Authority Sends Fintech Delegation to London

By Editors | 21/09/2017

Central bank and apex regulator says delegation is the largest it has ever put together, will meet London start-ups and accelerator programmes.

AML / KYC

HK SFC, Police Join Forces to Combat Financial Crime

By Samuel Riding | 29/08/2017

Agreement aims to clamp down on financial crime via securities markets; SFC has identified ‘multiple weaknesses’ in broker AML/CTF.

Fintech / Regtech

HKMA Launches New Round of Trade Repository Testing

By Editors | 28/08/2017

Two-stage testing of Phase 2 reporting to depository covers interest rate, foreign exchange, equity, credit and commodity derivatives.