Hong Kong

AML / KYC

HKMA Asks Banks, SVFs to Assess AML/CFT Risks of VASP Dealings

By Editors | 17/12/2019

Authorised institutions and SVF licensees should conduct appropriate risk assessments to differentiate the risks of the individual virtual asset service providers they deal with, the HKMA says.

Market Infrastructure

TMA Publishes Consultation Conclusions on HONIA Enhancements

By Editors | 16/12/2019

HONIA will continue to be calculated based on data from the existing five contributing money brokers for now, but the reporting window will change to 8:00-16:00.

Market Infrastructure

HKEX Finalises Enhancements to Pre-Opening Session, Volatility Controls

By Editors | 16/12/2019

The enhancements to the pre-opening session will be adopted in the second quarter of 2020. The stock-level volatility control mechanism will be expanded in the second half of 2020.

MPFA Commences Tendering Process for New eMPF Platform

By Editors | 12/12/2019

Companies that meet the technical requirements of the eMPF project are encouraged to form consortia and submit tenders by 9 April 2020.

Capital / Liquidity

HKMA Defends Against Rumours of Hong Kong Stability Risks

By Manesh Samtani | 12/12/2019

The HKMA has not seen any large-scale outflow of funds from Hong Kong and the banking system had sufficient capital and liquidity to withstand any impact.

Malaysia’s RHB Bank to Shutter Hong Kong Operations

By Editors | 11/12/2019

The move is said to be the result of an “increasingly challenging” operating and broking environment, largely attributed to a slow economy and ongoing civil unrest.

Securities / Derivatives

SFC, HKMA to Launch New Survey to Assess Product Selling Risks

By Editors | 10/12/2019

The survey will help the SFC and HKMA identify risks associated with the selling activities of intermediaries and coordinate their responses to address areas of common concern.

Capital / Liquidity

Hong Kong Introduces New Loan Guarantee Scheme for SMEs

By Editors | 10/12/2019

LegCo has approved HK$33bn in funding to provide 90% guarantees on approved loans taken out by eligible enterprises and professionals seeking to set up their own practices.

Securities / Derivatives

HKEX Reviews Listing Regime for Debt Issues to Professional Investors

By Editors | 09/12/2019

HKEX wants to raise the minimum net asset requirement for issuers from HK$100mn to HK$1bn, and to introduce a minimum debt issuance size of HK$100mn, among other proposals.