Deceptive practices were deployed at the expense of clients’ best interest and to the detriment of market integrity, said SFC chief Ashley Alder.
HKMA's Eddie Yue said the combined power of the three infrastructures will pave the way for digitalising cross-border trade across APAC.
Chiyu Banking Corporation, Chong Hing Bank, Fubon Bank, Shanghai Commercial Bank, and China Everbright Bank can launch WMC services.
New BIS paper says consent-based data governance systems with low transaction costs are key to promoting the development of virtual banking worldwide.
Financial groups should promote a strong risk culture, put in place appropriate supervision and surveillance, and ensure fairness and transparency in trade execution.
The former relationship managers were among five individuals indicted for conspiring to deceive Japanese investors with false documents.
Online banking, electronic payment services and cryptocurrency wallets have made it more difficult to recover scam proceeds.
The guide will help banks apply Regtech solutions for cyber risk management, including to address risks from container technology and remote working.
Vertex Technology Acquisition Corp and Pegasus Asia listed last week. A third SPAC, filed by Novo Tellus Alpha Acquisition, will debut on Thursday.
Hong Kong banks' exposures to the mainland property market warrant continued close monitoring and periodic stress testing.
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