Hong Kong

Market Infrastructure

HKMA Further Expands Eligible Collateral for RMB Facility

By Editors | 01/10/2021

Eligible collateral will include RMB, USD and EUR debt securities issued offshore by local governments at various levels in Mainland China.

AML / KYC

US DOJ Links Singapore, Hong Kong to Tax Evasion Case

By Editors | 30/09/2021

An unsealed indictment shows that six individuals and a Swiss firm used accounts in Singapore and Hong Kong to help US clients evade taxes from 2009 to 2014.

AML / KYC

Hong Kong Sees Spike in Investment Scam Losses – Report

By Editors | 29/09/2021

Victims lost HKD 2.5 billion from investment scams between January and July, a 20-fold increase compared to the same period last year.

CBIRC Urges Mainland Insurers to Issue Cat Bonds in HK

By Editors | 29/09/2021

The issuance of catastrophe bonds in Hong Kong can help diversify Mainland insurers’ losses from natural disasters and enhance the risk-sharing mechanism.

Enforcement

Shenzhen Regulator Launches Probe into Evergrande Wealth

By Editors | 29/09/2021

The Shenzhen Financial Regulatory Bureau said a “thorough investigation” into Evergrande Wealth has been launched following investor demands for an inquiry.

Fintech / Regtech

Central Banks Create Prototype Platform for mCBDC Settlements

By Sanday Chongo Kabange | 28/09/2021

The prototype platform was able to complete international transfers and foreign exchange operations in seconds while also lowering the cost of cross-border operations.

Market Infrastructure

20 HK Banks Apply to Participate in Wealth Connect – Report

By Editors | 28/09/2021

Balanced funds, money market funds, equity and bond funds are reportedly among the more than 100 types of investment funds awaiting the HKMA’s approval.

Enforcement

Enforcement Should Drive Good Conduct, says HKEX’s Jon Witts

By Manesh Samtani | 28/09/2021

HKEX’s approach to enforcement is designed to drive better conduct, governance and compliance culture, says Head of Listing Enforcement Jon Witts.

Fintech / Regtech

HKMA Issues Guide on Regtech Adoption for GRC

By Sanday Chongo Kabange | 28/09/2021

The guide outlines common challenges associated with regtech adoption for GRC and describes how successful firms have addressed these challenges.