Hong Kong

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    ESG / Sustainability

    HKMA Launches “Action Agenda” to Promote Sustainable Finance

    By Manesh Samtani | 22/10/2024

    Under the Sustainable Finance Action Agenda, banks are required to achieve net zero in their operations by 2030, and in their financed emissions by 2050.

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    Securities / Derivatives

    SFC Announces Fast Track Process for Simple Fund Authorisations

    By Manesh Samtani | 22/10/2024

    Under FASTrack, the SFC will take up applications within five business days of receipt, and grant authorisation within 10 business days from the take-up date.

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    Fintech / Regtech

    Hong Kong’s AI Leap: Exploring the New Model Framework

    By Daniel Ng | 22/10/2024

    Daniel Ng, Charlton Lin and Gigi Chang discuss the PCPD’s Model Personal Data Protection Framework for AI and the future regulatory landscape for AI and data security in Hong Kong.

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    Enforcement

    SFC Suspends Former Private Banker for Regulatory Breaches

    By Editors | 22/10/2024

    The former Julius Baer private banker lied about meeting a client face-to-face for account opening and about 14 transactions being unsolicited.

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    Capital / Liquidity

    HKMA Introduces New Measures to Boost SME Lending by Banks

    By Editors | 21/10/2024

    The HKMA lowered the CCyB ratio and will allow banks to early adopt the preferential treatments for SME exposures under the Basel III capital framework.

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    Securities / Derivatives

    SFC, HKEX Announce Enhanced Timeframe for New Listing Applications

    By Editors | 21/10/2024

    The enhanced timeframe for new stock listings will give companies greater certainty in the timing of their IPOs, the SFC and HKEX said.

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    Securities / Derivatives

    HKMA Announces Establishment of New Unit to Operate CMU

    By Editors | 21/10/2024

    The new unit, to be known as CMU OmniClear, is expected to take over CMU operations under its own governance structure in January 2025.

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    Market Infrastructure

    HK Govt Departments to Hold First Joint Cybersecurity Drills

    By Editors | 20/10/2024

    The drills, commencing in November, are aimed at helping government departments and public organisations build their cyber defences.

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    Enforcement

    SFC Opens Insider Trading Case Involving 2020 PayPal Acquisition

    By Sanday Chongo Kabange | 17/10/2024

    The SFC is pursuing the chairman of a HK-listed company that held shares in PayPal’s acquisition target.

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    Fintech / Regtech

    HKMA Publishes Research on GenAI in the Financial Sector

    By Editors | 30/09/2024

    HKMA survey of industry practitioners found that most FIs are currently focusing on internal applications of GenAI to drive employee productivity.

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