Hong Kong

AML / KYC

Greater Bay Regulators Sign MoU on Wealth Management Connect

By Manesh Samtani | 07/02/2021

The regulators agree to issue guidance to banks on product due diligence, investor protection, AML/CFT requirements and personal data protection, among other areas.

Market Infrastructure

UPDATED – HKEX to Acquire Stake in Guangzhou Futures Exchange

By Editors | 07/02/2021

The move, being the first-ever equity investment in a mainland futures exchange by a non-mainland investor, will help HKEX promote green and low-carbon markets across the region.

Capital / Liquidity

HK Bank Profitability Suffers, Loan Quality Deteriorates

By Editors | 04/02/2021

HKMA deputy chief executive Arthur Yuen says banks will continue to face challenges this year as Hong Kong suffers its worst recession on record.

Securities / Derivatives

Asian Regulators Issue Warnings as GameStop Remains in Focus

By Manesh Samtani | 04/02/2021

Authorities in Hong Kong, Singapore, Korea and Malaysia are among those issuing warnings of possible investor losses as heightened volatility continues.

Market Infrastructure

Hong Kong MPFA Awards eMPF Contract to PCCW Solutions

By Ranamita Chakraborty | 02/02/2021

PCCW Solutions will build, implement, operate and maintain Hong Kong’s new eMPF Platform, with Singapore’s iFAST as its prime subcontractor.

Fintech / Regtech

What Hong Kong Can Learn From Open Banking in the UK

By Eran Vitkon | 02/02/2021

The UK model provides lessons to help ensure Hong Kong’s open banking ecosystem is able to realise its full potential, say Finastra’s Eran Vitkon and Shweta Jain.

Enforcement

HK Court Finds JP Morgan Banker Not Guilty of Bribery

By Editors | 02/02/2021

The prosecution had accused the banker of employing the son of a client as a bribe to win IPO business for JP Morgan.

Market Infrastructure

HKMA Drafts Guidance on Operational Continuity in Resolution

By Editors | 01/02/2021

Operational continuity in resolution is a key aspect of resolution planning for individual banks, the HKMA says.

Capital / Liquidity

HKMA Extends Relief for Trade Loan Customers Another 90 Days

By Editors | 01/02/2021

Trade loans granted 90-day extensions last year will start to fall due in February, but some trade customers are still facing cash flow pressure, the HKMA said.