HONG KONG MONETARY AUTHORITY

Fintech / Regtech

HKUST Launches New GenAI Platform for Financial Sector

By Sanday Chongo Kabange | 29/11/2024

HKUST’s new InvestLM, designed to support the financial services industry, is available through the HKMA’s GenAI Sandbox.

Market Infrastructure

Hong Kong Completes Transition to Multiple CRA Operating Model

By Editors | 26/11/2024

The migration of consumer credit reference services to “Credit Data Smart” was completed on 24 November. HKMA welcomed the “milestone”.

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.

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.

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.

Enforcement

Korea FSS to End Short-Selling Investigation by Year-End

By Nithya Subramanian | 20/11/2024

FSS Governor Lee Bok-hyun told Hong Kong institutional investors that the investigation into illegal short selling will be complete by year-end.

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”.

Capital / Liquidity

HKMA Codifies Regulatory Expectations on Money Brokers

By Sanday Chongo Kabange | 18/11/2024

New SPM module codifies existing requirements and standards for approved money brokers and elaborates on HKMA’s supervisory process.

Crypto / Digital Assets

HKMA Warns Crypto Firms Against Misusing “Bank” Label

By Sanday Chongo Kabange | 18/11/2024

The HKMA says misuse of the label “bank” by unlicensed crypto firms may constitute a contravention of the Banking Ordinance.