Hong Kong Monetary Authority

AML / KYC

APAC Wealth Migration Trends Heighten Financial Crime Risk

By Joseph Quiazon | 28/12/2019

APAC regulators are looking to FIs and their technology to guard against increasingly sophisticated criminal activity as wealth migration accelerates, says Joseph Quiazon at Exiger.

Fintech / Regtech

HKMA Publishes Highlights from First AML/CFT RegTech Forum

By Manesh Samtani | 27/12/2019

Access to quality data and a more proactive knowledge sharing approach are critical to moving to intelligence-led methods in financial crime risk management.

Fintech / Regtech

HKMA Publishes Report on AI Adoption by Hong Kong Banks

By Manesh Samtani | 24/12/2019

The lack of employees with AI expertise was cited by 70% of respondents as the top barrier to AI adoption, according to a survey.

Press Release

Regulation Asia: Top Ten News Stories for 2019

By Editors | 20/12/2019

This list presents the most-read new stories published by Regulation Asia in 2019, based on aggregated user traffic analytics.

Capital / Liquidity

HKMA Rebuts BOE Claim of Hong Kong Fund Outflows

By Manesh Samtani | 19/12/2019

The BOE said in its biannual Financial Stability Report that $5bn has left Hong Kong since April, but the HKMA says the figure does not represent outflows from the city’s banking system.

Fintech / Regtech

UPDATED – ZA Bank Becomes First HK Virtual Bank to Launch Pilot Services

By Editors | 19/12/2019

ZA Bank, backed by ZhongAn and Sinolink Group, has launched services for 2,000 selected users to test under the HKMA’s sandbox mechanism.

Securities / Derivatives

SFC Concludes Consultation on OTC Derivatives Margin Requirements

By Manesh Samtani | 19/12/2019

IM requirements will be phased in for firms with AANA exceeding HK$375bn starting from 1 September 2020, the same date VM requirements take effect.

Capital / Liquidity

HKMA Moderates Approach to Implementing Market Risk Framework

By Editors | 18/12/2019

The HKMA says it will finalise Hong Kong’s timeline when there is more clarity on the implementation status in other major jurisdictions.

AML / KYC

HKMA Asks Banks, SVFs to Assess AML/CFT Risks of VASP Dealings

By Editors | 17/12/2019

Authorised institutions and SVF licensees should conduct appropriate risk assessments to differentiate the risks of the individual virtual asset service providers they deal with, the HKMA says.