Hong Kong

Market Infrastructure

HKMA Releases Banks from 30 June LIBOR Transition Milestone

By Manesh Samtani | 26/03/2021

International banks say prematurely restricting the issuance of LIBOR-linked contracts may result in fragmented markets.

Securities / Derivatives

HK OTC Derivatives Licensing Regime Closer to Implementation

By Scott Carnachan | 25/03/2021

Amendments to Hong Kong’s OTC derivatives licensing regime have been introduced in LegCo. Scott Carnachan at Deacons discusses the changes.

Enforcement

SFC Fines GEO Securities for Breaching Licence Conditions

By Editors | 25/03/2021

The firm also did not have effective controls in place for product due diligence, client risk tolerance assessment, and record-keeping.

Fintech / Regtech

Project Aurum: HKMA to Explore General Purpose CBDC

By Manesh Samtani | 25/03/2021

Project Aurum will explore the benefits and challenges of different architectures for the distribution of a general purpose CBDC.

Hong Kong: Enhanced 100% Loan Guarantee Set to Take Effect

By Editors | 22/03/2021

The maximum loan amount per enterprise, total loan ceiling, maximum repayment period, and duration of moratorium will be extended.

HKMC Signs Infrastructure Financing MoUs with Five Banks

By Manesh Samtani | 22/03/2021

The partner banks will identify infrastructure-related loan assets for the HKMC’s Infrastructure Financing and Securitisation business.

Fintech / Regtech

HKMA Outlines Regtech Use Cases for Treasury Operations

By Editors | 21/03/2021

The use cases presented include solutions to detect rogue trading activities, standardise derivatives trading lifecycle events, and enhance liquidity risk monitoring.

AML / KYC

US Sanctions 24 Officials Over Hong Kong Electoral Changes

By Editors | 19/03/2021

Foreign financial institutions that knowingly conduct significant transactions with the 24 individuals are subject to sanctions.

Market Infrastructure

HKMA Urges Continued Progress on LIBOR Transition Efforts

By Manesh Samtani | 18/03/2021

The HKMA’s Edmond Lau highlighted three essential elements for LIBOR transition: operational and system capabilities, effective coordination; commitment from top management.