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HKMA Raises Concerns Over Outside Mandates of Bank Directors
By Manesh Samtani | 16/12/2021
Banks have to report all outside mandates held by each director and chief executive, and address any conflicts of interest and time commitment issues.
ESG / Sustainability
PBOC Reiterates Commitment to Hong Kong Financial Centre
By Sanday Chongo Kabange | 13/12/2021
Key areas of collaboration to enhance Hong Kong’s roles as an international financial centre include CBDC, regtech, green finance development.
Fintech / Regtech
HK Associations Published Revised Code of Banking Practice
By Editors | 13/12/2021
Banks are expected to achieve full compliance with the new provisions within six months. The Code is endorsed by the HKMA.
Press Release
Wolters Kluwer Named Best Solution in Regulatory Reporting
By Editors | 10/12/2021
Wolters Kluwer enables FIs to address increasingly complex regulatory data and reporting requirements, leveraging an upgraded regulatory engine.
ESG / Sustainability
HKMA Shares ‘Sound Practices’ in Bank Climate Strategies
By Manesh Samtani | 09/12/2021
Banks are “strongly encouraged” to enhance their green and sustainability programmes to encompass climate risk management and the sound practices.
Fintech / Regtech
HKMA Launches Enhanced Competency Framework on Fintech
By Editors | 06/12/2021
Banks are “strongly encouraged” to adopt the ECF-Fintech as part of their overall efforts to support the professional development of employees.
Enforcement
SFC Bans Former Private Banker Over False Academic Qualifications
By Editors | 01/12/2021
The SFC considers the former relationship manager to not be fit and proper as her conduct was “plainly dishonest”.
Market Infrastructure
Wealth Connect to be Refined, Expanded Over Time: HKMA
By Mark Johnston | 01/12/2021
Account opening by attestation is expected to be piloted for the WMC’s Northbound scheme, allowing Hong Kong investors to participate without having to travel.
ESG / Sustainability
HKMA Offers Guidance on Regtech for Reporting, Stress Testing
By Manesh Samtani | 28/11/2021
The latest regtech adoption guide highlights challenges banks face as a result of their use of legacy systems and siloed data structures.
HKMA Publishes Interim Report on Front Office Incentives Review
By Manesh Samtani | 24/11/2021
Frontline staff with more positive perceptions of customer and conduct outcomes had incentives that emphasised both financial and non-financial factors.
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