Hong Kong

Only Hong Kong incorporated entities licensed by the HKMA would be allowed to actively market stablecoins to the local public.

HKEX and SZSE will conduct joint forums and workshops, and take part in reciprocal short-term training and secondment programmes for their employees.

The HKMA cited uncertainties caused by the spread of Covid-19 and global supply chain disruptions that are continuing to pressure corporates.

All MSCI futures and options will be included as the first batch of Holiday Trading Products. A market readiness test will be held in late February 2022.

The HKMA has also finalised its guidance on climate risk management, giving banks until end-2022 to implement the new measures.

A mystery shopping programme is being launched by the HKMA, MPFA and IA to assess the extent to which statutory and regulatory objectives are being met by intermediaries.

Grand International Futures did not conduct due diligence on customer supplied systems, resulting in thier use to create subaccounts and solicit investment from Mainland investors.

The proposal will make use of electronic payments directly from bank to bank, rather than routing payments for large property transactions through law firms.

The HKMA may issue directions to banks or their holding companies if it believes non-compliance with the Stay Rules (including by a related company) may impede orderly resolution.

The Bank of East Asia was no longer identified as a D-SIB in the assessment considering its systemic importance relative to other institutions, the HKMA said.