HONG KONG

Enforcement

SFC Fines Interactive Brokers Over Expired Standing Authority

By Sanday Chongo Kabange | 29/04/2025

Interactive Brokers loaned out client securities without first renewing the standing authority in place for securities borrowing and lending.

Fintech / Regtech

HKMA Opens Applications for Second Cohort of GenAI Sandbox

By Sanday Chongo Kabange | 29/04/2025

HKMA is also introducing the “GenAI Sandbox Collaboratory”, a platform comprising practical workshops to facilitate early engagements between banks and tech firms.

Market Infrastructure

HKEX Prepares to Implement Minimum Spreads Reduction Plan

By Sanday Chongo Kabange | 28/04/2025

HKEX has directed exchange participants to join an optional end-to-end to verify system changes needed to implement phase 1 minimum spreads reduction.

Market Infrastructure

SFC, HKMA Issue Guidance for New Derivatives Reporting Regime

By Sanday Chongo Kabange | 28/04/2025

The documents provide clarifications and address concerns on the implementation of the updated OTC derivatives reporting requirements commencing in September.

ESG / Sustainability

HKMA Unveils Key Priorities, Green Ambitions for 2025 and Beyond

By Sanday Chongo Kabange | 28/04/2025

The HKMA’s 2025 priorities include measures to safeguard the banking sector from financial crime, credit risk, cyber risk and climate risks.

AML / KYC

HKMA Launches Tender to Build Payment Data Analytics Platform

By Manesh Samtani | 28/04/2025

The objective of the new platform is to improve the identification and detection of fraud, mule accounts and other financial crime activities.

Big Picture

Hong Kong Banks Could Face Surge in Bad Loans: Fitch Ratings

By Mark Johnston | 28/04/2025

Hong Kong’s banking sector faces a potential rise in non-performing loans due to a “lingering property sector malaise” and US tariffs.

Fintech / Regtech

Culture and Conduct as the New Moat in APAC’s Wealth Sector

By Mary Leung | 28/04/2025

Traditional competitive advantages are fading in APAC’s booming wealth management sector, making a strong client-centric culture the new key to success, writes Mary Leung.

Big Picture

FBI Identifies Hong Kong as Top Destination for Fraudulent Wire Transfers

By Manesh Samtani | 27/04/2025

Other top international destinations for fraudulent wire transactions in 2024 included Vietnam, Philippines, India and China.