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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.
Market Infrastructure
HKMA Moves to Reduce LIBOR-related Reporting Frequency
By Editors | 24/12/2021
The move from monthly reporting back to quarterly reporting means the next reporting position after December 2021 will be March 2022.
AML / KYC
HKMA Asks Banks for ‘Active Participation’ in CDI Initiative
By Editors | 23/12/2021
The HKMA is seeking to link the new CDI to the Commercial Credit Rating Agency and Companies Registry to enhance risk management in the banking industry.
Market Infrastructure
HKMA Proposes New Guidance on Operational Resilience
By Manesh Samtani | 23/12/2021
Revisions to guidance on operational risk management and BCP have also been proposed to align with the operational resilience guidance.
Capital / Liquidity
HKMA Consults on Local Adoption of Pillar 3 Disclosure Requirements
By Manesh Samtani | 23/12/2021
The HKMA proposes to implement almost all the Pillar 3 disclosure requirements, including leverage ratio and market risk disclosure requirements.
Securities / Derivatives
CSRC to Bar Mainlanders from Using Northbound Stock Connect
By Sanday Chongo Kabange | 22/12/2021
A CSRC rule amendment will specify that mainland investors are not to be included as qualified investors in the northbound legs of Stock Connect.
Fintech / Regtech
PBOC to Connect Digital Yuan to HK Faster Payment System
By Sanday Chongo Kabange | 22/12/2021
The second phase of the ongoing CBDC trails between the Mainland and Hong Kong will involve connecting e-CNY wallets to Hong Kong’s FPS.
HKMA Directs Banks to Use Name Matching in Fund Transfers
By Editors | 21/12/2021
Banks are directed to perform name matching for fund transfers over HKD 10,000 to reduce the chance of error inputs by customers.
Market Infrastructure
HKMA Directs Banks to Observe Latest FX Global Code
By Mark Johnston | 21/12/2021
Banks are expected to review their practices to ensure observance of the FX Global Code and renew the Statement of Commitment by 15 July 2022.
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