Hong Kong

The BOE said in its biannual Financial Stability Report that $5bn has left Hong Kong since April, but the HKMA says the figure does not represent outflows from the city's banking system.

ZA Bank, backed by ZhongAn and Sinolink Group, has launched services for 2,000 selected users to test under the HKMA's sandbox mechanism.

Listed companies will have to disclose climate-related issues on a 'comply or explain' basis, HKEX said in its conclusions from a May consultation to update its ESG reporting framework

IM requirements will be phased in for firms with AANA exceeding HK$375bn starting from 1 September 2020, the same date VM requirements take effect.

A former CITIC branch manager accepted over HK$1mn in commissions for referring 6 bank clients to a money exchange company to remit money from the Mainland to Hong Kong.

The HKMA says it will finalise Hong Kong’s timeline when there is more clarity on the implementation status in other major jurisdictions.

For 3 years, the month-end liquid capital of W. Falcon Asset Management was falsely inflated with amounts on cheques that were later dishonoured.

The SFC will authorise index tracking feeder ETFs that want to invest in an overseas-listed, non-SFC authorised master ETF on a case-by-case basis.

There is significant interest among asset management firms to step up their ESG efforts and management of environmental and climate risks, an SFC survey has found.

Authorised institutions and SVF licensees should conduct appropriate risk assessments to differentiate the risks of the individual virtual asset service providers they deal with, the HKMA says.