Hong Kong

Hong Kong exposed to medium-high level of money laundering risk; ability to combat money laundering also assessed as medium-high.

Hong Kong legislation enables authorities to achieve orderly resolution in the event of a bank failure and provides clarity on the effect on depositors and other creditors.

Japanese banking association asks for 6-12 months grace for implementing LEI requirements; urges for increased incentives to encourage smaller firms to obtain LEIs.

Proposals include raising compensation limit to HKD500,000 per investor, covering Stock Connect northbound trading; raising trigger for reinstating transaction levy to fund compensation.

CFA Institute survey finds as little as 31% of investors in Australia and 35% in Hong Kong trust the financial services industry.

Industry veteran Laura Cha is first female chairman for a two-year term, subject to approval by chief executive Carrie Lam.

In biggest rule changes in two decades, innovative and emerging companies with weighted voting rights structures will be able to list in Hong Kong from Monday.

Deputy chief Arthur Yuen highlighted technological innovation, increased information sharing and the application of a risk-based approach as the key issues to implementing effective AML systems.

The CSRC has allowed certain types of Hong Kong brokerages to sell locally-focused research to Chinese mainland investors as it looks to further integrate the two markets.

Most Asian jurisdictions are behind on implementing counterparty credit risk measures, capital for CCP exposures as well as TLAC, IRRBB and LEX requirements.