Hong Kong

The HKAB updated its guidance for banks after the government said it would no longer recognise BN(O) passports as valid travel documents or forms of identity.

The proposals establish the standards of conduct expected of intermediaries participating in bookbuilding, pricing, allocation and placing activities.

The HKMA will continue to reimburse participating institutions up to 50% of the monthly salary of programme participants and subsidise professional training course fees.

The regulators agree to issue guidance to banks on product due diligence, investor protection, AML/CFT requirements and personal data protection, among other areas.

The move, being the first-ever equity investment in a mainland futures exchange by a non-mainland investor, will help HKEX promote green and low-carbon markets across the region.

HKMA deputy chief executive Arthur Yuen says banks will continue to face challenges this year as Hong Kong suffers its worst recession on record.

Authorities in Hong Kong, Singapore, Korea and Malaysia are among those issuing warnings of possible investor losses as heightened volatility continues.

PCCW Solutions will build, implement, operate and maintain Hong Kong’s new eMPF Platform, with Singapore’s iFAST as its prime subcontractor.

The UK model provides lessons to help ensure Hong Kong's open banking ecosystem is able to realise its full potential, say Finastra's Eran Vitkon and Shweta Jain.

The prosecution had accused the banker of employing the son of a client as a bribe to win IPO business for JP Morgan.