Hong Kong

AML / KYC

SFC Calls on Industry to Report Suspected Ramp-and-dump Activity

By Manesh Samtani | 26/07/2021

Ramp-and-dump scams now account for about half of the market manipulation cases being investigated by the SFC. Overseas investors also being targeted.

Market Infrastructure

Hong Kong Introduces Bill to Boost FRC’s Regulatory Powers

By Sanday Chongo Kabange | 25/07/2021

Under the proposed regime, regulatory powers currently vested with the HKICPA will be transferred to the Financial Reporting Council.

Fintech / Regtech

HKMA Launches Commercial Data Interchange Innovation Hub

By Editors | 23/07/2021

The Hub will further facilitate the development and adoption of the CDI by helping to match potential data providers and data users.

AML / KYC

HKMA Targets Effectiveness in Addressing AML, Fraud risk

By Manesh Samtani | 22/07/2021

HKMA Executive Director Carmen Chu highlights the need for transformation and collaboration to combat new AML and fraud challenges in the digital era.

Capital / Liquidity

HKMA Revises Policy Manual on Bank Group Supervision

By Editors | 21/07/2021

The SPM module was revised to reflect the current supervisory approach and practices adopted by the HKMA and to incorporate international standards.

ESG / Sustainability

HKMA Issues Draft Guideline for Banks on Climate Risk Management

By Manesh Samtani | 21/07/2021

The guideline includes expectations on governance, strategy, risk management and disclosure. The HKMA plans to allow a 12-month period for implementation.

AML / KYC

SFC Sanctions Sino-Rich Responsible Officers Over AML Breaches

By Editors | 20/07/2021

Sino-Rich Securities & Futures was fined for AML breaches in March. Its CEO and another director have been deemed responsible.

AML / KYC

HK Customs Arrests Four for Laundering Funds Using Tether

By Sanday Chongo Kabange | 19/07/2021

The four are part of a syndicate that charged criminal clients a commission of 3-5% to launder illicit proceeds from crime.

AML / KYC

SFC Issues Warning on Unregulated Virtual Asset Platforms

By Editors | 18/07/2021

Soon after the SFC’s statement, Binance announced that stock tokens will no longer be available for purchase on its website.