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AML / KYC
HK Customs Flags Money Laundering Risk from Money Changers
By Editors | 08/01/2021
Amid the pandemic, some criminal actors have turned to licensed money changers, who were more easily lured into criminal activities as their businesses suffer.
Securities / Derivatives
HKEX Outlines Next Steps for VCM, POS Enhancements
By Manesh Samtani | 07/01/2021
Phase 2 VCM enhancements will occur in March 2021 in the securities market. VCM and POS enhancements will be applied to the derivatives market in Q2 2021.
Market Infrastructure
Hong Kong Set to Implement Group-Wide Supervision for Insurance
By Editors | 06/01/2021
Newly gazetted subsidiary legislation will allow the Insurance Authority to set capital, regulatory reporting and public disclosure requirements for insurance groups.
Enforcement
SFC Bans CCB Asia Branch Manager for Life
By Editors | 05/01/2021
The former manager used a cashier’s order application form pre-signed by a customer to misappropriate HK$3.6mn in April 2019.
HKEX Announces Appointment of Interim Chief Executive
By Editors | 05/01/2021
Outgoing chief Charles Li retired from his role on 31 December 2020, a decision announced in September.
HKEX Discontinues Issuance of Exchange Participant Certificates
By Editors | 04/01/2021
HKEX will also stop making available hard copies of any rule book or rule update as part of efforts to continue developing a sustainable and green environment.
Capital / Liquidity
HKMA Intends to Bring ‘Stay Rules’ into Operation in 2021
By Editors | 03/01/2021
Implementation will occur in two phases, the first for contracts where the only counterparties are HKMA-authorised institutions and/or FIs that are part of G-SIBs.
AML / KYC
Hong Kong Launches New Digital Identity Platform ‘iAM Smart’
By Manesh Samtani | 02/01/2021
The SFC, HKMA, IA and MPFA are encouraging FIs to adopt iAM Smart in their businesses for customer authentication, document signing, and remote onboarding.
Securities / Derivatives
HKFE Announces Launch Date for Hang Seng TECH Index Options
By Editors | 31/12/2020
The Hang Seng TECH Index Futures, introduced in November, have now been certified by the CFTC to be offered and sold to persons in the US.
Market Infrastructure
HKEX to Introduce New Market Access Platform in Q3 2021
By Editors | 30/12/2020
Phase 1 will involve the technical migration from the Orion Central Gateway to the new Cash Market Gateway in Q3 2021.
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