Hong Kong

The HKMA circular follows last week's publication of new minimum capital requirements for market risk by the Basel Committee on Banking Supervision.

In a keynote address this week, HKMA executive director Alan Au discussed the three pillars of bank culture reform, progress at banks, and new initiatives to drive culture reform forward.

JETCO launches the city's first Open API exchange; New Accenture survey indicates willingness of Hong Kong consumers to share personal financial information with third parties.

Eligible general equity, bond or mixed funds authorised by the SFC can seek authorisation to be marketed to retail investors in Luxembourg.

The Code provides guidance on the qualifying conditions to use the internal assessment approach for calculating the capital requirement for certain securitisation exposures.

FWD Life also failed to maintain satisfactory internal controls and written compliance procedures as required under the SFC Code on MPF Products and the Fund Manager Code of Conduct.

Lawmakers are pushing for greater oversight of credit reference agencies following the discovery of security loopholes in TransUnion's online service for credit reports.

All functions and submission services available on the existing SFC Online Portal will be migrated to the new platform in phases.

Derek McGibney at ACA Compliance Group lays out the activities investment firms should be undertaking to ensure ongoing compliance with the FMCC.

HKEX has loosened the eligibility criteria and created a more flexible structure to allow global liquidity providers to provide market making for Hong Kong exchange-traded products.