Hong Kong

Enforcement

SFC Bans Ex-StanChart Banker For Concealing Personal Trades

By Editors | 25/11/2020

The SFC’s decision followed a referral from the HKMA, which discovered that the former banker also wilfully misrepresented himself to the Appeals Tribunal.

Securities / Derivatives

HKEX to Enhance Northbound Stock Connect Post-trade Processing

By Editors | 24/11/2020

HKEX is targeting a Q1 2022 launch for the new settlement platform, which will automate and streamline post-trade processes and improve settlement efficiency.

Market Infrastructure

HKMA Urges Continued Efforts to Advance Bank Culture Reform

By Manesh Samtani | 24/11/2020

In a recent keynote address, the HKMA’s Alan Au discussed seven common themes that were identified from banks’ self-assessments of culture reforms.

Capital / Liquidity

HKMA Updates Rules for Banks’ Equity Investments in Funds

By Editors | 22/11/2020

The HKMA consulted on local implementation of the standard in January 2019. The new consultation contains amendments reflecting industry feedback.

Market Infrastructure

HKMA Expands List of Eligible Collateral for RMB Facility

By Editors | 21/11/2020

Eligible collateral will include RMB, USD and EUR debt securities issued offshore by China’s central bank, Ministry of Finance or policy banks.

Capital / Liquidity

HKMA Consults on Local Implementation of Final Basel III Reforms

By Editors | 19/11/2020

The consultation is open until 6 January 2021, ahead of industry engagement in 2021, legislative amendments in 2022, and a 1 January 2023 target implementation date.

Market Infrastructure

OTC Clear to Launch RTGS Settlement Service for Members

By Manesh Samtani | 18/11/2020

From 30 November 2020, the new service will relieve clearing members from having to create payment instructions to settle amounts due to OTC Clear each day.

Market Infrastructure

HKMA Finalises New Reporting Form for Consolidated Accounts

By Editors | 17/11/2020

The new Return of Consolidated Accounts will help the HKMA monitor banking sector developments and strengthen the consolidated supervision of locally incorporated banks.

Fintech / Regtech

SFC Signs Fintech Cooperation Agreement with Israeli Regulator

By Editors | 17/11/2020

The agreement establishes a framework for information sharing, potential joint innovation projects and referrals of innovative firms seeking to enter one another’s markets.