Hong Kong

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    ESG / Sustainability

    SFC Sets Expectations on Due Diligence on ESG Service Providers

    By Manesh Samtani | 26/11/2024

    Asset managers should “reasonably understand the ESG products provided by the third-party ESG service providers”.

    Securities / Derivatives

    Hong Kong Connectivity With Mainland Set to Increase

    By Manesh Samtani | 25/11/2024

    China Vice-Premier He Lifeng, CSRC Chairman Wu Qing and HKMA Chief Eddie Yue discussed new initiatives at the Global Financial Leaders’ Investment Summit.

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    Crypto / Digital Assets

    ZA Bank Launches Crypto Trading Services for Retail Clients

    By Sanday Chongo Kabange | 25/11/2024

    Leveraging a partnership with HashKey Exchange, ZA Bank has become the first bank in Asia to offer virtual asset trading services to retail users.

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    Sanctions

    US State Department “Taking Steps” to Sanction Hong Kong Officials

    By Editors | 25/11/2024

    The move is a response to the jailing of 45 pro-democracy advocates. China has vowed to take “firm countermeasures” if the sanctions come to pass.

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    Market Infrastructure

    China’s TC260 Issues Guidelines on GBA Personal Data Flows

    By Editors | 23/11/2024

    The guidelines set requirements for information processors and recipients in Mainland China and Hong Kong to ensure secure cross-border flow of personal information.

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    ESG / Sustainability

    HKMA Launches ‘Professional Level’ ECF for Sustainable Finance

    By Sanday Chongo Kabange | 23/11/2024

    The “Professional Level” of the ECF-GSF aims to help mid- and senior-level bankers develop professional competencies in Green and Sustainable Finance.

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    Capital / Liquidity

    HKMA Shares Good Practices to Support Basel III Implementation

    By Manesh Samtani | 22/11/2024

    The HKMA encourages banks to maintain their momentum as the 1 January 2025 implementation date for certain aspects of Basel III approaches.

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    Enforcement

    SFC Suspends Former Yuanta Securities Licensee for 26 Months

    By Mark Johnston | 22/11/2024

    The former licensee had a secret profit-sharing agreement with a client, failed to disclose personal dealings, and made false representations to the SFC.

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    Market Infrastructure

    HKEX, HSIL Launch New Index Focused on Stock Connect

    By Sanday Chongo Kabange | 19/11/2024

    The ‘Stock Connect China Enterprises Index’, or SCCEA, will track the largest Chinese companies under the Stock Connect scheme.

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    Fintech / Regtech

    HKMA Asks Merchant Acquiring Banks to Promote Mobile POS

    By Sanday Chongo Kabange | 19/11/2024

    Banks are asked to promote adoption of mobile POS terminals by merchants to help expand coverage “as far as practicable”.

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