Hong Kong

AML / KYC

HK Amends National Security Law to Facilitate Asset Freezes

By Editors | 15/12/2023

The national security law has been amended to allow assets to be frozen “until the conclusion of the proceedings” such as criminal prosecutions.

Mainland Officials Meet With HK Bankers to Discuss Challenges

By Mark Johnston | 15/12/2023

Officials met with Hong Kong bankers this week to seek their views on improving the city’s competitiveness.

Fintech / Regtech

China, Hong Kong Streamline Personal Data Sharing Across GBA

By Manesh Samtani | 14/12/2023

A standard contract will be piloted this month to allow personal data to be transferred within the GBA in a safe and orderly manner.

Enforcement

SFC Bans Ex Employee of OCBC Wing Hang Bank

By Sanday Chongo Kabange | 13/12/2023

The employee was earlier convicted for offering a colleague a bribe to refer mortgage refinancing clients to an external party.

Enforcement

HK’s Market Sounding Rules Could Impact Decision-making Dynamics

By Nithya Subramanian | 13/12/2023

Market participants have sought clarity on the definition of non-public information and jurisdiction from Hong Kong’s SFC.

ESG / Sustainability

HKMA to Launch Physical Risk Assessment Platform for Banks

By Manesh Samtani | 12/12/2023

HKMA’s Arthur Yuen also said the first version of Hong Kong’s green classification framework will be released “very soon”.

Big Picture

Adapting to Regulatory Changes is a Challenge for Insurers

By Nithya Subramanian | 08/12/2023

Insurers must track regulatory changes and make operational adjustments to meet new requirements, said the Clearwater Analytics survey.

Market Infrastructure

RBI in Talks With HK, US on Cross-border CBDC Payments

By Ajoy K Das | 08/12/2023

The RBI has set up a working group to create a roadmap for settling international remittances using CBDCs.

Market Infrastructure

Hong Kong IA Consults on Subsidiary Rules for Risk-based Capital Regime

By Sanday Chongo Kabange | 08/12/2023

The IA is consulting on two subsidiary rules to tie in with the implementation of a risk-based capital regime for insurers set to commence next year.