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Hong Kong
Sanctions
US Advances Bill That Could Force Closure of Hong Kong Trade Offices
By Editors | 13/09/2024
The Hong Kong government called the House bill a “politically driven” attack that violates international law and interferes with the city’s internal affairs.
Securities / Derivatives
HKEX Offers New Guidance on Preventing Self-Matched Trades
By Sanday Chongo Kabange | 12/09/2024
The guidance aims to help firms mitigate the risk of self-trades by different trading units that might be susceptible to inappropriate trading behaviour.
Securities / Derivatives
SFC Sets Rules for Distributing Research on Stock Connect ETFs
By Manesh Samtani | 10/09/2024
Hong Kong intermediaries are allowed to distribute research reports of eligible Mainland ETFs that are available in Hong Kong via Stock Connect.
AML / KYC
HKMA Issues Guidance on Using AI to Enhance AML Monitoring
By Sanday Chongo Kabange | 10/09/2024
Banks will have to assess the feasibility of adopting AI in their ML/TF monitoring systems and then formulate and submit an implementation plan to HKMA by end March 2025.
Enforcement
HSBC Responsible Officer Disqualified Over MPF Referral Programme
By Sanday Chongo Kabange | 09/09/2024
The responsible officer was disqualified for 30 months for his role in recruiting unregistered personnel to refer MPF corporate clients to HSBC.
Enforcement
HKMA Suspends Ex-Hang Seng Bank Employee for Dishonest Conduct
By Sanday Chongo Kabange | 09/09/2024
The HKMA suspended a former Hang Seng Bank relevant individual for fabricating a client’s signature on a time deposit application form.
Capital / Liquidity
Hong Kong Banks Pledge to Provide Continued Support to SMEs
By Manesh Samtani | 06/09/2024
14 banks committed to replying customers about credit approval reviews within one month and about mortgage loan application outcomes within 14 days.
AML / KYC
HK Customs Announces Disciplinary Actions Against Four MSOs
By Editors | 06/09/2024
The MSOs failed to keep records of remittance transactions and to identify beneficial owners and PEPs, among other breaches of AML/CTF requirements.
Capital / Liquidity
HKMA Consults on Guidance for Basel III Reform Package
By Manesh Samtani | 04/09/2024
The guidance covers certain requirements relating to the rules on operational risk capital, exposure limits and LCR calculation.
Securities / Derivatives
SFC Issues Licensing Guidance for Visiting and Returning Professionals
By Sanday Chongo Kabange | 03/09/2024
The SFC provides guidance on licensing options for professionals visiting and returning to Hong Kong to conduct regulated activities.
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