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Fintech / Regtech
HKMA Suspends E-wallet Auto Top-Up Service Amid Fraud Reports
By Garima Chitkara | 26/10/2018
Approximately HKD 180,000 was stolen from customers just three weeks after the launch of a service allowing automatic top-ups of e-wallets by direct debit from bank accounts.
Capital / Liquidity
HKMA to Adopt BCBS Guidelines on Stress Testing
By Editors | 23/10/2018
Authorised institutions should review and strengthen stress testing frameworks and practices taking account of BCBS’ stress testing principles, the HKMA says.
Capital / Liquidity
Hong Kong TLAC Rules Set to Take Effect in December
By Garima Chitkara | 23/10/2018
FSB-aligned total loss-absorbing capacity rules will be presented to the LegCo on 24 October and will go into effect on 14 December.
AML / KYC
Revised HKMA Guidelines on AML/CFT to Take Effect from November
By Editors | 22/10/2018
The Guidelines are set to take effect from 1 November for authorised institutions and stored value facilities. The HKMA has also published its policy and supervisory approach.
AML / KYC
Europe’s AMLD5 and its Impact on AML Regulations in Asia
By Claus Christensen | 15/10/2018
While AMLD5 confirms the EU’s leadership role in AML legislation, similar efforts have been seen in Asia, says Claus Christensen at Know Your Customer Ltd.
AML / KYC
Technology, Multi-Agency Cooperation in Focus at HKMA
By Manesh Samtani | 11/10/2018
At the Refinitiv Pan Asian Regulatory Summit, HKMA’s Carmen Chu discussed how technology and cooperation with authorities contributes to a safe and clean financial centre.
AML / KYC
HKMA Outlines Regtech Initiatives – Speech
By Manesh Samtani | 28/09/2018
The HKMA is looking to build a more diversified regtech ecosystem in Hong Kong and urges for greater collaboration between the banking industry and technology community.
Market Infrastructure
MAS Simplifies Mobile Payments with Unified Payment QR Code
By Manesh Samtani | 18/09/2018
The SGQR combines multiple payment QR codes into a single SGQR label, to be rolled out across Singapore over the next six months.
Market Infrastructure
HKMA Launches Faster Payment System, Common QR Code
By Manesh Samtani | 18/09/2018
New payment system connects banks and stored-value facility operators to enable instant payments in Hong Kong dollar and renminbi.
Enforcement
HKMA Endorses Benefits of Cooperation
By Will Hallatt | 07/09/2018
The HKMA’s guidance note expressly signals its desire to encourage and facilitate cooperation in investigations and enforcement proceedings, noting time, cost and resource savings for the regulator and institutions or individuals concerned.
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