Hong Kong

Market Infrastructure

HKMA Notifies Banks of Enhanced Competency Framework

By Editors | 22/06/2021

Banks are asked to review and assess the impact of the SFC’s revised framework and take action to ensure compliance.

Crypto / Digital Assets

InvestHK Launches 2021 Fintech Fast Track Programme

By Sanday Chongo Kabange | 21/06/2021

Selected companies will be showcased prominently at Hong Kong Fintech Week 2021 which takes place from 1 to 5 November.

Fintech / Regtech

HKMA to Conduct Industry Stock-take on Fintech Adoption

By Editors | 21/06/2021

All licensed banks with significant operations in Hong Kong must prepare and submit a questionnaire on fintech adoption by 31 December.

ESG / Sustainability

New Competency Framework to Take Effect from January: SFC

By Editors | 21/06/2021

Raising professional standards is crucial to maintain quality markets, particularly in view of the rapidly evolving financial landscape, says SFC chief Ashley Alder.

Fintech / Regtech

HKMA Issues Practice Guide on Cloud-based Regtech Solutions

By Manesh Samtani | 20/06/2021

Guidance is provided on the use of APIs to address barriers to adoption created by legacy systems that are inflexible to change.

Fintech / Regtech

HKMA Outlines Three Year Roadmap for Suptech Adoption

By Manesh Samtani | 20/06/2021

The HKMA will explore the potential conversion of regulations into machine-executable codes and the introduction of a system that automatically creates regulatory reports.

Securities / Derivatives

Hong Kong-Thailand Mutual Recognition of Funds Takes Effect

By Manesh Samtani | 17/06/2021

Hong Kong’s SFC and Thailand’s SEC say the MRF scheme has taken effect. Both have issued new guidance on obtaining authorisation under the scheme.

Enforcement

Hong Kong: Ex-Dah Sing Bank Manager Jailed for Fraud

By Sanday Chongo Kabange | 16/06/2021

The former financial planning manager told a client he was required to buy an insurance policy before he could open a corporate bank account.

Market Infrastructure

Hong Kong Needs New Cybersecurity Legislation: FSDC

By Manesh Samtani | 16/06/2021

The FSDC recommends the development of legislation to provide legal certainty and protection, clarity on cross-border data transfers, and a framework for accountability.