Hong Kong

AML / KYC

Intermediaries Should Lay Down Anti-bribery Policies: SFC

By Editors | 21/12/2020

Intermediaries should draw reference from the sample code of conduct issued by the ICAC and provide appropriate training to directors, staff members and agents.

Market Infrastructure

HKMA Unveils Enhanced Competency Framework on Operational Risk

By Editors | 20/12/2020

The new Enhanced Competency Framework is aimed at raising the professional competence of practitioners working in the operational risk management function of banks.

Securities / Derivatives

SFC Consults on Amendments to Code on Pooled Retirement Funds

By Editors | 20/12/2020

Given the wide participation in Hong Kong by employers and employees in ORSO schemes which invest in PRFs, appropriate investor protection should apply.

Fintech / Regtech

HKMA Outlines Regtech Use Cases for Pandemic Environment

By Editors | 18/12/2020

In its fifth issue of ‘Regtech Watch’, the HKMA outlines four potential regtech use cases relevant to the pandemic environment.

ESG / Sustainability

Hong Kong Launches Strategic Plan for Greener Financial Ecosystem

By Manesh Samtani | 17/12/2020

A cross-agency steering group has announced a green and sustainable finance strategy for Hong Kong and five key action points.

Capital / Liquidity

HKMA Consults on Implementation of Revised CVA Risk Framework

By Editors | 17/12/2020

The revised CVA risk capital framework is likely to have significant impacts on banks, particularly for those with material CVA risk exposures, the HKMA says.

Crypto / Digital Assets

SFC Issues First Licence to Digital Asset Trading Platform

By Editors | 16/12/2020

The licences permit OSL Digital Securities to operate regulated brokerage and automated trading services for digital assets.

AML / KYC

Hong Kong Set to Tighten Rules for Digital Wallets July 2021

By Editors | 15/12/2020

Non-real-name account holders will not be able to transfer money to other banks or e-wallets, or make cross-border remittances.

Securities / Derivatives

Hong Kong Audit Regulator Gains Access to Chinese Audit Papers

By Editors | 15/12/2020

“This is a landmark moment for cross-border cooperation in the investigation of auditing irregularities,” said Financial Reporting Council chairman Kelvin Wong.