Hong Kong Monetary Authority

HKMA Reminds Institutions of FATF Warnings

By Samuel Riding | 10/11/2015

Letter to Hong Kong institutions reiterates need for AML/CFT countermeasures, scrutiny on Iran, North Korea and Myanmar.

Seven Banks Named in Hong Kong Data Breach

By Editors | 16/10/2015

The Hong Kong Monetary Authority has named seven banks that breached data rules requiring them not to store unsecured cardholders’ names on contactless chips.

SFC Chairman Pushes for OTC Derivatives Reform

By Editors | 14/10/2015

The chairman of the Securities and Futures Commission says there is no room for delay in the implementation of OTC derivatives reforms as international standards need to be met.

Hong Kong to Establish Resolution Regime This Year

By Editors | 12/10/2015

Majority of respondents supportive of the proposal to establish local resolution regime in line with FSB standards.

HKMA-SFC Consult on Mandatory Clearing and Reporting for OTC Derivatives

By Editors | 01/10/2015

Consultation paper introduces first phase of mandatory clearing and second phase of mandatory reporting under new OTC regime.

HKMA Issues Guidance on Cybersecurity Risk Mgt

By Editors | 17/09/2015

The Hong Kong Monetary Authority (HKMA) has issued a circular to financial institutions highlighting the importance of proper cybersecurity risk management and provide general guidance on the matter.

HKMA Issues New Guidance on E-Banking Risk Management

By Editors | 09/09/2015

The Hong Kong Monetary Authority has issued a revised version of the Supervisory Policy Manual for risk management of electronic banking services.

HKMA Cautions Banks on Malpractice by Intermediaries and Sales Agents

By Editors | 10/08/2015

The Hong Kong Monetary Authority has issued a circular to banks requiring them to enhance customer protection and mitigate reputational risk arising from possible malpractices of intermediaries or sales agents.

HKMA Fines State Bank of India for Breach of AML/CTF Rules

By Editors | 03/08/2015

SBI’s Hong Kong branch fined HK$7.5 million for breaching anti money-laundering and counter terrorism financing rules.