Hong Kong

Market Infrastructure

Hong Kong, US to End Mutual Recognition of Accountants

By Editors | 29/05/2022

An agreement could not be reached about a requirement for US accountants to have one year of local experience to practise in Hong Kong.

HKMA Publishes Findings from Front Office Incentives Review

By Editors | 26/05/2022

Some incentive systems used in retail banks’ front offices may unintentionally push staff to prioritise business objectives over customer outcomes.

Fintech / Regtech

Govt Support Needed in AI, Big Data Industry: FTAHK

By Editors | 25/05/2022

Survey respondents said government support is needed to drive education and promote fairness, ethics, accountability and transparency in the industry.

Securities / Derivatives

HKEX to Establish First Non-Asia Offices This Year – Report

By Editors | 24/05/2022

New offices in Europe and the US will allow HKEX to provide services and support to international companies seeking to list or invest in Hong Kong.

Market Infrastructure

HK PCPD Issues Guidance on Cross-border Data Transfers

By Editors | 19/05/2022

Recommended model contractual clauses are provided for scenarios where personal data is transferred across borders to another data user or to a data processor.

Enforcement

HK ICAC Charges Ex-Sunway Employee for Money Laundering

By Editors | 19/05/2022

A former personal assistant helped his boss to launder HKD 125 million borrowed from listed company Sunway International Holdings.

Market Infrastructure

HKMA’s Operational Resilience Standards: An ‘Adapt and Learn’ Approach

By Lisa Huang | 19/05/2022

Lisa Huang and Shannon Wong offer guidance on making a timely start to compliance with HKMA’s new operational resilience framework.

Market Infrastructure

HKEX Sets 13 June Launch Date for New VaR Platform

By Editors | 17/05/2022

The VaR Platform will replace the existing flat-rate model for calculation of margin and HKSCC Default Fund contributions.

AML / KYC

HK Police Arrest 17 for Using Virtual Banks to Launder Money

By Editors | 16/05/2022

The syndicate members processed the funds through more than 20 online bank accounts since 2021, police said.