AFIN and FTAHK will collaborate on initiatives to support the development of financial innovations on APIX, an online marketplace and sandbox for cross-border fintech services.
New HKMA guidance for banks using big data analytics and AI applications focuses on four major areas: governance and accountability; fairness; transparency and disclosure; and data privacy and protection.
The plaintiffs allege that KPMG “negligently failed to identify that they were the victims of a serious and pervasive false accounting by former members of executive management.”
The high-level principles cover governance, application design and development, and ongoing monitoring and maintenance of banks' AI applications.
Bills related to tax, government rates and rent, and water will be issued with FPS QR codes moving forward.
Licensed corporations must ensure cyber and operational risks are properly mitigated and that the SFC’s access to regulatory records is not restricted or otherwise undermined.
China Rise's former CEO placed 199 illegal short selling orders in 2014, and an unnamed senior manager executed cross trades at a price detrimental to the client.
The HKMA outlines its expectations for the consumer protection practices financial institutions should adopt for Open API Phase II and beyond.
The guidance materials have been enhanced to improve access to the Hong Kong market and to facilitate the application process.
Two operators of an SME conspired to defraud DBS Bank, HSBC, ICBC, Dah Sing Bank, Wing Hang Bank, the Trade and Industry Department, and the Hong Kong Mortgage Corporation.