Hong Kong

Fintech / Regtech

Malaysia Association Joins APAC RegTech Network

By Editors | 10/09/2019

The APAC RegTech Network was established by the regtech committees of the fintech associations of Hong Kong, Japan and Singapore in May.

AML / KYC

SFC Asks Licensed Firms to Bolster AML/CTF Compliance

By Editors | 09/09/2019

Following the release of the FATF mutual evaluation report for Hong Kong, the SFC has highlighted key work areas for licensed firms and their associated entities.

Securities / Derivatives

HKEX Recovers from Derivatives Market Outage

By Editors | 06/09/2019

Derivatives trading was suspended on Thursday due to software issues in HKEX’s vendor supplied trading system, which “have now been isolated”.

AML / KYC

HKMA Offers Guidance in Response to FATF Report

By Manesh Samtani | 06/09/2019

Banks and SVF operators are asked to explore how technology can be used to more effectively and efficiently combat risks, including through the use of analytics in monitoring.

AML / KYC

FATF Releases Mutual Evaluation Report for Hong Kong

By Manesh Samtani | 04/09/2019

Hong Kong needs to enhance prosecution of money laundering involving crimes committed abroad and strengthen supervision of certain non-financial businesses.

Market Infrastructure

SFC Launches ‘Key Risk Indicator’ Reporting Platform

By Editors | 02/09/2019

Initially, licensed corporations of 22 global FIs will have to submit data relating to their operations, conduct issues and prudential risk exposures on a monthly, quarterly and yearly basis.

Capital / Liquidity

HKMA Allows Lenders to Expand Use of Tech in Retail Lending

By Editors | 30/08/2019

The HKMA is allowing lenders to further develop business involving the use of innovative financial technology to assess and approve personal loan applications.

Capital / Liquidity

HKMA Introduces New Liquidity Facilities for Banks

By Manesh Samtani | 27/08/2019

The updated Liquidity Facilities Framework is part of ongoing work to maintain the integrity and stability of Hong Kong’s monetary and financial systems, said HKMA chief Norman Chan.

AML / KYC

HKMA Issues Clarification on Non-Face-to-Face Onboarding

By Editors | 24/08/2019

In line with SFC requirements, the HKMA says banks need not re-verify a client’s identity when opening an investment account if they’ve already done so for bank account opening.