HONG KONG MONETARY AUTHORITY

Crypto / Digital Assets

HashKey Announces Launch of Retail Crypto Trading Service

By Editors | 29/08/2023

HashKey launched trading services for retail crypto investors, allowing them to trading in bitcoin and ether.

Fintech / Regtech

HKMA Announces Expanded Scope of Fintech Push

By Sanday Chongo Kabange | 28/08/2023

The HKMA will take “proactive steps” to assist banks, brokers and insurers to “put fintech solutions into action”.

AML / KYC

HKMA to Explore Regulatory Changes to Promote Bond Tokenisation

By Sanday Chongo Kabange | 26/08/2023

The report suggests new requirements could be introduced for DLT platforms, covering areas from KYC and AML compliance to BCPs and cyber risk assessments.

Capital / Liquidity

HKMA, AFRC Sign MoU to Strengthen Cooperative Arrangements

By Editors | 17/08/2023

Collaboration will strengthen through case referrals, mutual assistance, capacity building and exchange of information.

Market Infrastructure

Wealth Connect Hindered by ‘Narrow Range of Products’

By Editors | 16/08/2023

Market participants are looking for regulators to extend the Wealth Management Connect scheme to more products and well as widen its sales channels.

Enforcement

Hong Kong IA Bans Ex-StanChart Agent for Six Months

By Editors | 16/08/2023

The agent doctored a DDA form because the client’s signature was missing on one page. The SFC previously disciplined the same individual.

Fintech / Regtech

HKMA Asks Banks to Participate in New Data Sharing Initiative

By Editors | 15/08/2023

The Interbank Account Data Sharing Initiative will enable banks to share bank account data with other banks, subject to customer consent.

AML / KYC

HKMA Fines EFG Bank Over AML Control Deficiencies

By Editors | 15/08/2023

The bank failed to complete identity verification for customers that were transferred in from another FI and had other issues related to CDD and ongoing monitoring.

ESG / Sustainability

Hong Kong to Develop Roadmap for ISSB Standards Adoption

By Editors | 08/08/2023

A special working group will be established to work on the roadmap and make recommendations to the Green and Sustainable Finance Cross-Agency Steering Group.