Hong Kong

    Securities / Derivatives

    HK OTC Derivatives Licensing Regime Closer to Implementation

    By Scott Carnachan | 25/03/2021

    Amendments to Hong Kong’s OTC derivatives licensing regime have been introduced in LegCo. Scott Carnachan at Deacons discusses the changes.

    Enforcement

    SFC Fines GEO Securities for Breaching Licence Conditions

    By Editors | 25/03/2021

    The firm also did not have effective controls in place for product due diligence, client risk tolerance assessment, and record-keeping.

    Fintech / Regtech

    Project Aurum: HKMA to Explore General Purpose CBDC

    By Manesh Samtani | 25/03/2021

    Project Aurum will explore the benefits and challenges of different architectures for the distribution of a general purpose CBDC.

    Hong Kong: Enhanced 100% Loan Guarantee Set to Take Effect

    By Editors | 22/03/2021

    The maximum loan amount per enterprise, total loan ceiling, maximum repayment period, and duration of moratorium will be extended.

    HKMC Signs Infrastructure Financing MoUs with Five Banks

    By Manesh Samtani | 22/03/2021

    The partner banks will identify infrastructure-related loan assets for the HKMC’s Infrastructure Financing and Securitisation business.

    Fintech / Regtech

    HKMA Outlines Regtech Use Cases for Treasury Operations

    By Editors | 21/03/2021

    The use cases presented include solutions to detect rogue trading activities, standardise derivatives trading lifecycle events, and enhance liquidity risk monitoring.

    AML / KYC

    US Sanctions 24 Officials Over Hong Kong Electoral Changes

    By Editors | 19/03/2021

    Foreign financial institutions that knowingly conduct significant transactions with the 24 individuals are subject to sanctions.

    Market Infrastructure

    HKMA Urges Continued Progress on LIBOR Transition Efforts

    By Manesh Samtani | 18/03/2021

    The HKMA’s Edmond Lau highlighted three essential elements for LIBOR transition: operational and system capabilities, effective coordination; commitment from top management.

    AML / KYC

    SFC Fines Yardley Securities for AML/CFT Breaches

    By Editors | 17/03/2021

    Yardley Securities processed and approved third party fund transfers without proper due diligence. Staff were not aware their employer had an MLRO.

    Big Picture

    New Report Explores Outlook for Hong Kong Virtual Banks

    By Editors | 17/03/2021

    The paper features case studies of  Revolut and Tinkoff Bank, as well as insights from interviews with all eight Hong Kong virtual banks.

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