Hong Kong Monetary Authority

HKMA Raises Bar on Banks’ Complaints Handling Protocols

By Editors | 08/01/2023

Banks are expected to proactively make use of alternate dispute resolution channels when complaints cannot be resolved through their internal mechanisms.

AML / KYC

HKMA to Scale Up AML Efforts in 2023: Carmen Chu

By Bradley Maclean | 04/01/2023

Executive Director Carmen Chu discusses the actions the HKMA is taking to disrupt AML threats to Hong Kong, and technology initiatives that are making a difference.

ESG / Sustainability

HKMA Revises SPM to Embed Climate Risk in Supervisory Approach

By Editors | 30/12/2022

Revised SPM illustrates the HKMA’s approach to the supervision of emerging risks such as climate risk under its risk-based supervisory approach.

HK Regulators Identify Issues in Sales of Tax-deductible Products

By Sanday Chongo Kabange | 28/12/2022

Mystery shopping programme identified deficiencies in QDAP and TVC sales practices. Insurers and intermediaries with adverse findings will be required to take remedial actions.

Press Release

Regulation Asia: Top 20 News Stories for 2022

By Editors | 28/12/2022

This list presents the most-read new stories published by Regulation Asia in 2022, based on aggregated user traffic analytics.

Press Release

Regulation Asia: Top Ten Contributed Articles for 2022

By Editors | 28/12/2022

This list presents the most-read contributed articles published by Regulation Asia in 2022, based on aggregated user traffic analytics.

Capital / Liquidity

APRA to Set CCyB Default Rate at 1pc from 1 Jan 2023

By Editors | 22/12/2022

The CCyB default rate in Australia has been set at zero percent of risk-weighted assets since it was introduced in 2016.

Crypto / Digital Assets

HKMA Intends to Implement BCBS Cryptoasset Standards

By Editors | 22/12/2022

The HKMA plans to implement the Basel standards on the treatment of cryptoasset exposures locally by 1 January 2025, in accordance with the BCBS timetable.

Fintech / Regtech

HKMA Issues Guidance on Using Digital Platforms to Offer Credit

By Manesh Samtani | 21/12/2022

With the growing popularity of digital platforms to apply for credit products, banks are “reminded to ensure proper protection of their customers”, the HKMA said.