Hong Kong

Hong Kong Further Extends Repayment Period for Trade Loans

By Editors | 30/04/2023

Existing trade facilities falling due between May and July 2023 can be extended by a further 90 days, the HKMA said.

ESG / Sustainability

Report Offers Recommendations to Finance GBA Net Zero Transition

By Editors | 30/04/2023

Report from WRI China calls for the establishment of a cross-regional agency coordination mechanism for financing decarbonisation in the GBA.

AML / KYC

SFC Chief Julia Leung Offers View Into 2023 Priorities

By Manesh Samtani | 29/04/2023

Julia Leung said the SFC will issue the new virtual assets rules in May, and that it developing a free carbon emissions calculator tool to help SMEs in climate-related reporting.

AML / KYC

HKMA Offers Guidance on VASP Account Opening

By Manesh Samtani | 28/04/2023

Deputy chief Arthur Yuen said the HKMA expects regulated VASPs to be able to open a bank account in Hong Kong through a reasonable process.

ESG / Sustainability

SFC Commits to Reaching Carbon Neutrality by 2050

By Editors | 27/04/2023

The SFC will make periodic disclosures on the status of its carbon reduction efforts and progress towards meeting its climate targets, said CEO Julia Leung.

HK to Guarantee Loans to Travel, Transport Industries

By Editors | 27/04/2023

New scheme will provide guarantees on loans to cross-boundary passenger transport operators and licensed travel agents.

Enforcement

SFC Bans Another Ex-Convoy Licensee Over Manipulation Scheme

By Editors | 26/04/2023

Peter Law convinced clients to buy and hold a stock that was being manipulated by collaborators in exchange for a commission.

AML / KYC

HK Bank-to-bank Information Sharing Platform to Launch in June

By Manesh Samtani | 26/04/2023

Authorities are also considering co-locating bank staff at the ADCC, as this has helped to reduce stop payment response times and enhance loss recoveries in other jurisdictions like Singapore.

AML / KYC

HKMA Sets Loss-Sharing Expectations for Payment Card Fraud

By Manesh Samtani | 26/04/2023

To the extent that the cardholders have not acted fraudulently or with gross negligence, they “should not be held liable for the unauthorised transactions”.