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Climate Risk
HKMA Issues Draft Guideline for Banks on Climate Risk Management
By Manesh Samtani | 21/07/2021
The guideline includes expectations on governance, strategy, risk management and disclosure. The HKMA plans to allow a 12-month period for implementation.
Trading & Investment
HKMA Publishes Criteria for PE Funds Seeking Tax Concession
By Editors | 18/07/2021
A fund should have operating expenditure incurred in Hong Kong for the provision of investment management services amounting to at least HK$2mn.
Credit Risk
HKMA Announces Final Extension for Trade Loan Deferrals
By Manesh Samtani | 16/07/2021
Corporate customers can further extend their trade facilities for another 90 days until the end of October, when the scheme will expire.
Sustainable Finance
Hong Kong Launches Centre for Green and Sustainable Finance
By Manesh Samtani | 15/07/2021
The Centre will serve as a cross-sector platform to coordinate the transition efforts and serve as a repository for resources, data and analytics.
Trading & Investment
HKMA Asks Banks to Bolster Corporate Awareness of LIBOR Cessation
By Editors | 13/07/2021
Banks are asked to distribute a leaflet to all corporate customers by 31 July 2021 and to send confirmation to the HKMA after the exercise is complete.
Fraud, Scams & Cybercrime
HKMA Launches Campaign to Raise Awareness of Phishing
By Sanday Chongo Kabange | 08/07/2021
HKMA statistics show that phishing frauds in the first six months of 2021 were up 145% from the first half of 2020.
Structural Regulation
HKMA Issues SPM on Supervision of Banks’ Insurance Business
By Editors | 01/07/2021
The HKMA’s enforcement standards with respect to insurance intermediary business of banks mirror those adopted by the IA.
Cloud & Infrastructure
HKMA Sets Out ‘Four Actions’ to Realise Regtech 2025 Vision
By Manesh Samtani | 01/07/2021
At the HKMA’s flagship regtech conference, Eddie Yue outlined the initiatives underway to promote regtech adoption, including to explore a corporate version of iAM Smart.
Reporting & Disclosures
China, EU to Finalise Climate Taxonomy By Year-End
By Sanday Chongo Kabange | 30/06/2021
A PBOC official reportedly said experts working on the common taxonomy are expected to complete the final version by the end of this year.
Reporting & Disclosures
HK to Accelerate Plans for Mandatory Climate Disclosures – Report
By Sanday Chongo Kabange | 28/06/2021
The HKMA’s Darryl Chan reportedly said mandatory climate disclosure requirements could arrive in Hong Kong as early as next year.
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