HKEX chief Charles Li says the merger would create the most important investment platform and risk management infrastructure for the free flow of global capital between the East and West.
Voice recording was inadvertently not enabled on some private banking service lines, resulting in over 5,800 client order instructions not being tape-recorded.
The APAC RegTech Network was established by the regtech committees of the fintech associations of Hong Kong, Japan and Singapore in May.
Following the release of the FATF mutual evaluation report for Hong Kong, the SFC has highlighted key work areas for licensed firms and their associated entities.
Derivatives trading was suspended on Thursday due to software issues in HKEX’s vendor supplied trading system, which "have now been isolated".
Banks and SVF operators are asked to explore how technology can be used to more effectively and efficiently combat risks, including through the use of analytics in monitoring.
Hong Kong needs to enhance prosecution of money laundering involving crimes committed abroad and strengthen supervision of certain non-financial businesses.
Initially, licensed corporations of 22 global FIs will have to submit data relating to their operations, conduct issues and prudential risk exposures on a monthly, quarterly and yearly basis.
The HKMA is allowing lenders to further develop business involving the use of innovative financial technology to assess and approve personal loan applications.
The updated Liquidity Facilities Framework is part of ongoing work to maintain the integrity and stability of Hong Kong’s monetary and financial systems, said HKMA chief Norman Chan.
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