Hong Kong

Enforcement

Hong Kong: ICAC Charges Three Over Mortgage Fraud

By Editors | 27/04/2022

A property buyer and two estate agents understated the purchase price so the mortgage would be subject to a lower LTV cap.

AML / KYC

FIs Must Continue to Innovate Approach to AML: HKMA

By Manesh Samtani | 27/04/2022

Executive director Carmen Chu says work is underway to update HKMA’s guidance on name screening, transaction monitoring and suspicious transaction reporting.

HKIFA Calls for Clear ‘Exit Strategy’ from Covid Restrictions

By Editors | 27/04/2022

The HKIFA says many fund managers have or are planning to relocate, largely to Singapore, due to Hong Kong’s tough Covid-related restrictions.

Market Infrastructure

HKEX, SFC to Open HKIDR Testing to Market on 16 May

By Sanday Chongo Kabange | 27/04/2022

Regulated intermediaries are asked to get ready for the testing, which is mandatory. The HKIDR is expected to be implemented in the later part of Q4 2022.

Fintech / Regtech

HKMA Launches Knowledge Hub to Promote RegTech Adoption

By Editors | 26/04/2022

The Hub’s launch is accompanied by videos featuring regtech solutions from HSBC, Citibank, iFinHealth, Ping An OneConnect Bank and ASTRI.

Capital / Liquidity

HK to Implement Capital Standard for Banks’ Fund Exposures

By Editors | 26/04/2022

The capital standard for banks’ equity investments in funds is expected to come into operation in Hong Kong on 1 July 2022.

Securities / Derivatives

SFC Proposes Amendments to Position Limit Regime

By Editors | 26/04/2022

The proposals will expand the list of futures and options contracts for which the SFC may prescribe position limits.

Securities / Derivatives

SEHK Adopts New Rules for Bookbuilding, Placing Activities

By Editors | 25/04/2022

The listing rule amendments, due to take effect in August, are a consequence of changes to the Code of Conduct finalised by the SFC in October.

Fintech / Regtech

HKMA to Develop Additional Safeguards for Bank Customers

By Manesh Samtani | 20/04/2022

A fresh review of the Banking Code of Practice has been launched, covering information disclosure, customers’ finance management, and dispute handling.