Hong Kong

Capital / Liquidity

HKMA Asks Banks to Start Working on FRTB Implementation

By Editors | 21/01/2019

The HKMA circular follows last week’s publication of new minimum capital requirements for market risk by the Basel Committee on Banking Supervision.

Market Infrastructure

HKMA Urges Banks to Foster Sound Culture – Speech

By Manesh Samtani | 18/01/2019

In a keynote address this week, HKMA executive director Alan Au discussed the three pillars of bank culture reform, progress at banks, and new initiatives to drive culture reform forward.

Fintech / Regtech

Hong Kong Gets First API Exchange Platform in Open Banking Push

By Manesh Samtani | 17/01/2019

JETCO launches the city’s first Open API exchange; New Accenture survey indicates willingness of Hong Kong consumers to share personal financial information with third parties.

Crypto / Digital Assets

Hong Kong, Luxembourg Sign Mutual Recognition of Funds Agreement

By Editors | 16/01/2019

Eligible general equity, bond or mixed funds authorised by the SFC can seek authorisation to be marketed to retail investors in Luxembourg.

Capital / Liquidity

HKMA Banking Securitisation Code Takes Effect

By Editors | 14/01/2019

The Code provides guidance on the qualifying conditions to use the internal assessment approach for calculating the capital requirement for certain securitisation exposures.

Capital / Liquidity

SFC Fines FWD Life for Noncompliance with Key Personnel Requirements

By Editors | 09/01/2019

FWD Life also failed to maintain satisfactory internal controls and written compliance procedures as required under the SFC Code on MPF Products and the Fund Manager Code of Conduct.

Market Infrastructure

Hong Kong Lawmakers Push for Consumer Data Protections – Report

By Editors | 08/01/2019

Lawmakers are pushing for greater oversight of credit reference agencies following the discovery of security loopholes in TransUnion’s online service for credit reports.

Securities / Derivatives

Hong Kong SFC Launches New Online Submission Portal

By Editors | 07/01/2019

All functions and submission services available on the existing SFC Online Portal will be migrated to the new platform in phases.

Market Infrastructure

SFC Fund Manager Code of Conduct – Five Important Next Steps

By Derek McGibney | 04/01/2019

Derek McGibney at ACA Compliance Group lays out the activities investment firms should be undertaking to ensure ongoing compliance with the FMCC.