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Fintech / Regtech
InvestHK Announced Fast Track Fintech Development Programme
By Editors | 10/08/2020
Companies from nine key fintech verticals are invited to submit applications by 31 August, for a chance to showcase their solutions to corporates and investors at Hong Kong Fintech Week.
Securities / Derivatives
HKMA Warns of Risks in Leveraged Investment Products
By Editors | 09/08/2020
Banks should take into account Covid-19 in product due diligence and client suitability assessments, and exercise caution when dealing in leveraged products.
AML / KYC
US Sanctions 11 Chinese, Hong Kong Officials
By Manesh Samtani | 08/08/2020
The HKMA says unilateral sanctions imposed by foreign governments have “no legal status” in Hong Kong and banks should endeavour to treat customers fairly.
AML / KYC
HKMA, IA Issue Guidance on Video Distribution of Insurance Products
By Editors | 07/08/2020
Insurers and intermediaries such as banks have to apply to enter the InsurTech Sandbox to test the use of video conferencing to distribute long term insurance policies.
Market Infrastructure
APAC Firms Lag in IBOR Transition Preparation – Report
By Manesh Samtani | 05/08/2020
Apart from G-SIBs operation in the region, APAC firms are not prepared for the transition away from IBORs, according to a new report from Sia Partners.
Market Infrastructure
HKMA Defers Trade Facility Repayments by a Further 90 Days
By Editors | 05/08/2020
Banks have agreed to allow corporate customers who still face cash-flow pressures to further extend their trade facilities for a further 90 days, on top of the 90 days granted from May.
Fintech / Regtech
HKMA, BIS Innovation Lab Seek Solutions in Trade Finance
By Editors | 03/08/2020
Private firms are invited to submit innovative solutions that can help enhance trade finance mechanisms, connectivity and infrastructure.
ESG / Sustainability
Culture Audits: Removing the Blindfold
By Stephen Scott | 03/08/2020
To avoid individual liability, leaders along all Three Lines of Defence must identify indicators of non-financial risk that permit “upstream” interventions, say Stephen Scott and Mark Cooke.
Securities / Derivatives
HKMA Relaxes Rules on Retail Sales of Government Bonds
By Editors | 02/08/2020
Banks can forgo suitability assessments and audio recordings when distributing low-risk, non-complex retail tranches of Hong Kong or Mainland government bonds.
AML / KYC
HKMA Issues AML Guidance to Banks As Pandemic Persists
By Manesh Samtani | 30/07/2020
The guidance sets out key practices banks have been using to manage customer due diligence, resource pressure, and emerging threats in the context of Covid-19.
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