Commentary

Grace Chong at global law firm Simmons & Simmons analyses the implications of MAS' Individual Accountability and Conduct Guidelines, and sets out the practical steps to be taken.

MAS is equipping itself with advanced tools that will allow for culture and conduct to be evaluated in a more systematic way, say Jeff Kupfer and Stephen Scott at Starling.

By laying the groundwork, identifying key goals and developing processes, regulatory change management can be a business-as-usual activity, says Fenergo's Rachel Woolley.

Though the CLSA-CITIC fallout was characterised as a cultural clash, this narrative frays against the other challenges facing stock brokers and investment bankers, says Peter Guy.

There is clear fatigue in the industry around BCBS 239 compliance, but the exercise has also enabled other capabilities, say PwC's Irene Liu, David Yakowitz and Catherine Lee.

Herbert Smith Freehills says the HKMA push for adoption of the Ethical Accountability Framework in FinTech development represents a broader movement toward regulating artificial intelligence.

Given the similarities between Hong Kong and China's KYC frameworks, cross-border onboarding and account opening has become less of a challenge, say Synpulse’s Prasanna Venkatesan, Gregory Achache and Marina Mai.

The HKMA is addressing culture and conduct risk by learning from other markets, engaging with other regulators, and exploring new technology, say Jeff Kupfer and Stephen Scott at Starling Trust.

It's time to have a conversation about implementing real AML information sharing across organisations, sectors and jurisdictions, writes Claus Christensen at Know Your Customer Ltd.

Banks have not invested sufficiently in modernising their core internal systems due to a stronger focus on customer-facing applications, says Synpulse partner Salomon Wettstein.