Banks have to adopt provisions in financial contracts binding counterparties to temporary stays on termination rights that may be imposed by the HKMA during a bank resolution.
A former CLSA managing director has accused CLSA of “blatant” misbehaviour as bond underwriter for the now-defunct CEFC Energy.
A unit of Toronto-Dominion Bank will be included on the FSP list. An entity that has merged with Deutsche Bank will be removed.
A system design caused a failure to distinguish between ex-entitlement dates and settlement dates of bonus share events in periodic statements.
Banks are asked to review and assess the impact of the SFC's revised framework and take action to ensure compliance.
Selected companies will be showcased prominently at Hong Kong Fintech Week 2021 which takes place from 1 to 5 November.
All licensed banks with significant operations in Hong Kong must prepare and submit a questionnaire on fintech adoption by 31 December.
Raising professional standards is crucial to maintain quality markets, particularly in view of the rapidly evolving financial landscape, says SFC chief Ashley Alder.
Guidance is provided on the use of APIs to address barriers to adoption created by legacy systems that are inflexible to change.
The HKMA will explore the potential conversion of regulations into machine-executable codes and the introduction of a system that automatically creates regulatory reports.
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