Market Infrastructure

Hong Kong’s New RBC Regime for Insurers Commences

03/07/2024

The introduction of the RBC regime will strengthen the financial soundness of insurers and enhance protection for policy holders.

Market Infrastructure

HSBC Completes Pilot Trial of Cross-Boundary Credit Referencing

03/07/2024

HSBC is one of the first banks to successfully participate in the newly-launched cross-boundary credit referencing initiative led by the HKMA and the PBOC.

Market Infrastructure

Hong Kong AFRC Sets Expectations for PIE Auditors

03/07/2024

The AFRC has reminded PIE auditors to be prepared for undertaking PIE engagements as gatekeepers for the capital market.

Market Infrastructure

AFCA Publishes New Rules and Operational Guidelines

02/07/2024

The new rules are approved by ASIC and provide complete transparency into how the AFCA operates.

AML / KYC

FSC Issues New Standard on Fraud and Scam Mitigation for Super Funds

02/07/2024

The new standard requires funds to implement multifactor authentication for all high-risk transactions and to have clear procedures to prevent fraudulent events.

SFC Streamlines Approvals for ILAS Marketing Materials

01/07/2024

Approval will no longer be required for “immaterial changes” to ILAS marketing materials that are already authorised by the SFC.

Market Infrastructure

China, Hong Kong Pilot Cross-boundary Credit Referencing

01/07/2024

The MoU between the HMKA and PBOC on cross-boundary commercial credit data connectivity is “essential” for healthy development of the banking sector.

AML / KYC

Australia Law Body Issues Guidance on AML

01/07/2024

The guidance will safeguard  legal practitioners from being “unwittingly” misused by financial criminals.

Market Infrastructure

HKMA, PBOC To Establish Cross-border Payment Link

01/07/2024

The cross-boundary payment and settlement scheme will enhance economic activities between Hong Kong and the Mainland.