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Securities / Derivatives
SFC Finalises Changes to Code on Pooled Retirement Funds
By Editors | 29/10/2021
The amendments include enhanced requirements for PRF operators including product providers, trustees, management companies and insurance companies.
HK Passes Legislation to Expand FRC’s Regulatory Functions
By Sanday Chongo Kabange | 28/10/2021
The FRC will become a full-fledged independent regulatory body for the accounting profession, performing inspections, investigations and disciplinary work.
Enforcement
SFC Bans Former StanChart Licensee for Life
By Editors | 28/10/2021
The former licensee failed to disclose to the SFC in licensing applications that he was the subject of a criminal investigation.
ESG / Sustainability
A Look at the SFC’s Climate Risk Requirements for Fund Managers
By Michael P Wong | 27/10/2021
The new requirements will have a significant impact on in-scope fund managers, and not just those that follow ‘sustainable’ or ‘ESG’ strategies, says Dechert partner Michael Wong.
HK to Maintain Covid Restrictions Despite Plea from FIs – Report
By Editors | 27/10/2021
A government spokesperson reportedly said the city continue to strive to reach ‘zero infection’ and the top priority remains reopening travel to the mainland.
Fintech / Regtech
HKMA to Bolster Regtech Talent Through New Skills Framework
By Manesh Samtani | 25/10/2021
The HKMA will launch a new ECF on Fintech by year-end. It will incorporate a set of competency standards and training curriculum that apply to regtech practitioners.
ESG / Sustainability
HK Financial Sector Calls for Easing of Covid Restrictions
By Sanday Chongo Kabange | 25/10/2021
Nearly half of surveyed FIs are considering moving staff or functions away from Hong Kong due to operational challenges, including travel and quarantine uncertainty.
Securities / Derivatives
HKMA Amends Requirements on Share Margin Financing
By Sanday Chongo Kabange | 25/10/2021
The HKMA says continued enforcement of the requirement to observe market norms in the setting of maximum LTV ratios is no longer appropriate.
AML / KYC
HKMA, SFC Issue FAQ on ‘Offence Related Property’ Under NSL
By Editors | 25/10/2021
FIs “must” disclose to the JFIU property held by persons charged for offences under the National Security Law regardless of the portion of shareholdings.
Fintech / Regtech
HKMA, PBOC Agree to Link Regulatory Sandbox Across Borders
By Mark Johnston | 22/10/2021
The arrangement will facilitate cross-border financial innovation in the Greater Bay Area and strengthen supervisory exchanges.
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