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HK Banks Extend Repayment Deferment for Trade Facilities
By Editors | 12/01/2022
The HKMA cited uncertainties caused by the spread of Covid-19 and global supply chain disruptions that are continuing to pressure corporates.
Market Infrastructure
HKEX to Launch Derivatives Holiday Trading by Easter
By Manesh Samtani | 07/01/2022
All MSCI futures and options will be included as the first batch of Holiday Trading Products. A market readiness test will be held in late February 2022.
Capital / Liquidity
HKMA Unveils Results of Climate Risk Stress Tests
By Manesh Samtani | 03/01/2022
The HKMA has also finalised its guidance on climate risk management, giving banks until end-2022 to implement the new measures.
HK Regulators to Assess Sales Practices of Tax-deductible Products
By Mark Johnston | 03/01/2022
A mystery shopping programme is being launched by the HKMA, MPFA and IA to assess the extent to which statutory and regulatory objectives are being met by intermediaries.
AML / KYC
SFC Fines Grand International Futures for AML Breaches
By Editors | 02/01/2022
Grand International Futures did not conduct due diligence on customer supplied systems, resulting in thier use to create subaccounts and solicit investment from Mainland investors.
HKMA Endorses Proposal to Better Protect Mortgage Borrowers
By Editors | 31/12/2021
The proposal will make use of electronic payments directly from bank to bank, rather than routing payments for large property transactions through law firms.
HKMA Issues Guidance on Compliance with ‘Stay Rules’
By Editors | 30/12/2021
The HKMA may issue directions to banks or their holding companies if it believes non-compliance with the Stay Rules (including by a related company) may impede orderly resolution.
Capital / Liquidity
HKMA Removes Bank of East Asia from D-SIBs List
By Editors | 28/12/2021
The Bank of East Asia was no longer identified as a D-SIB in the assessment considering its systemic importance relative to other institutions, the HKMA said.
Market Infrastructure
Hong Kong, Mainland Exchanges to Include ETFs in Stock Connect
By Editors | 28/12/2021
Eligible ETFs will be included in Stock Connect. Business and technical preparations are expected to take about six months to complete.
Enforcement
HK ICAC Charges Six Former AXA Employees For Fraud
By Editors | 24/12/2021
The ICAC charged the six former employees with conspiracy to defraud AXA of over HKD 950,000 in commissions and bonuses.
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