Remote onboarding technology should be able to authenticate customer identities through document image acquisition and “incontrovertibly” link identities through biometrics.
The move is aimed at halting "rolling bad apples" in their tracks by requiring firms to provide the SFC with details about employee departures, says Herbert Smith Freehills.
Two of JPMorgan's Hong Kong funds have been approved for distribution in China under the Mutual Recognition of Funds scheme.
Hong Kong is seeking industry feedback on plans to introduce new systems for a paperless securities market to enhance global competitiveness and increase market efficiency.
The IMF has assessed that robust financial regulation and supervision should help Hong Kong weather domestic and external shocks despite growing risks to the city's outlook.
The exchange is considering shortening the time it takes to price new shares and to bring pricing closer to the market trading, to address concerns that stocks tend to fall sharply after listing.
Enabled by Traiana infrastructure, HKEX OTC Clear is offering the first clearing service for deliverable FX forwards and swaps in the USD/CNH and USD/HKD currency pairs.
The HKMA circular follows last week's publication of new minimum capital requirements for market risk by the Basel Committee on Banking Supervision.
In a keynote address this week, HKMA executive director Alan Au discussed the three pillars of bank culture reform, progress at banks, and new initiatives to drive culture reform forward.
JETCO launches the city's first Open API exchange; New Accenture survey indicates willingness of Hong Kong consumers to share personal financial information with third parties.