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Conduct, Culture & Accountability
SFC Bans Former HSBC Relationship Manager for One Year
By Editors | 07/11/2019
The former relationship manager used incomplete application forms pre-signed by the client to effect unit trust transactions without specific authorisation.
AI Risk & Governance
Fintech Week: HKMA Announces New Fintech Initiatives
By Manesh Samtani | 07/11/2019
As part of an ecosystem approach to fintech development, HKMA chief Eddie Yue wants to work with FIs, end users and technology firms to drive innovation in financial services.
Trading & Investment
China, Hong Kong to Establish Wealth Management Connect Scheme
By Editors | 07/11/2019
The scheme will enable residents of Hong Kong and other GBA cities to invest in wealth management products in each other’s market through their respective banking systems.
AI Risk & Governance
HKMA Emphasises Consumer Protection in Big Data Analytics, AI Use
By Editors | 06/11/2019
New HKMA guidance for banks using big data analytics and AI applications focuses on four major areas: governance and accountability; fairness; transparency and disclosure; and data privacy and protection.
Payments & Settlements
Hong Kong Enables Govt Bill Payment Via FPS QR Code
By Editors | 04/11/2019
Bills related to tax, government rates and rent, and water will be issued with FPS QR codes moving forward.
AI Risk & Governance
HKMA Offers High-level Guidance for Banks on AI Use
By Editors | 02/11/2019
The high-level principles cover governance, application design and development, and ongoing monitoring and maintenance of banks’ AI applications.
Emerging Prudential Risks
Transitioning Away from IBORs: The View from Asia
By Garima Chitkara | 30/10/2019
Asian banks have a large and complex operational task ahead of them as they prepare for a post-LIBOR world after 2021, say KPMG’s Marie Gervacio and Luke Gower.
Structural Regulation
HKMA Stresses Consumer Protection Ahead of Open Banking Phase II
By Editors | 30/10/2019
The HKMA outlines its expectations for the consumer protection practices financial institutions should adopt for Open API Phase II and beyond.
Operational Risk
HKMA Updates Guidance on E-Banking Risk Management
By Editors | 25/10/2019
The updated supervisory policy manual seeks to strengthen risk management controls in electronic banking channels by providing more principle-based guidance.
AI Risk & Governance
Suptech Gains Momentum but Approaches Vary: FSI Paper
By Editors | 23/10/2019
Suptech use cases have mainly clustered around misconduct analysis, reporting and data management, according a new paper from the BIS Financial Stability Institute.
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