Hong Kong Monetary Authority

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    Big Picture

    Risks in APAC Private Credit Sector are Limited: HKMA Research

    By Manesh Samtani | 03/05/2024

    However, further monitoring is warranted as private credit funds are increasingly open-ended, using leverage, and loosening their underwriting standards.

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    AML / KYC

    HKMA Outlines Key Priorities, Green Ambitions for 2024 and Beyond

    By Sanday Chongo Kabange | 02/05/2024

    The HKMA has outlined its priorities for 2024 and beyond in its latest annual report and its 2023 sustainability report.

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    Fintech / Regtech

    Hong Kong Working on Proposals to Amend Privacy Law

    By Manesh Samtani | 30/04/2024

    The amendments will include the introduction of a mandatory personal data breach notification mechanism.

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    AML / KYC

    HKMA Seeking to Identify Next Areas of Focus in AML Regtech

    By Manesh Samtani | 29/04/2024

    HKMA is inviting professional firms to recommend AML Regtech use cases where adoption rates can be targeted for increase over the next two years.

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    Fintech / Regtech

    Hong Kong Launches Cross-Industry Platform to Boost Fintech Adoption

    By Sanday Chongo Kabange | 29/04/2024

    ‘FiNETech’ will enable financial institutions and tech firms to explore collaboration in the areas of wealthtech, insurtech, greentech, AI and DLT.

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    Capital / Liquidity

    HKMA Consults on Guidance for Revised Credit Risk Framework

    By Editors | 25/04/2024

    The guidance seeks to address interpretative issues raised in previous consultations on the implementation of the revised credit risk framework in Hong Kong.

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    AML / KYC

    Commerzbank Fined in Germany for AML Violations

    By Mark Johnston | 24/04/2024

    BaFin said Commerzbank was slow to update customer data and inadequately applied enhanced due diligence requirements.

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    Fintech / Regtech

    Hong Kong Launches New ‘One-Stop’ Platform for SMEs

    By Sanday Chongo Kabange | 23/04/2024

    The new ‘one-stop SME platform’ enables SMEs to “shop around” for lending services offered by the major banks.

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    AML / KYC

    HKMA Proposes Revisions to E-banking Risk Management Requirements

    By Manesh Samtani | 22/04/2024

    HKMA’s revised SPM Module incorporates additional requirements on electronic banking security and expands the obligations to payment card transactions.

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    Enforcement

    HKMA Fines Hua Nan Commercial Bank Over AML/CFT Controls

    By Editors | 22/04/2024

    HKMA identified deficiencies in the bank’s ability to continuously monitor some customer relationships over a six-year period.

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