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ESG / Sustainability
ISSB Adoption in Hong Kong Will Have Global Significance: SFC
By Manesh Samtani | 06/10/2022
The SFC is working with HKEX to develop a regulatory framework for listed company climate-related disclosures “based on the ISSB standards”.
Capital / Liquidity
HKMA to Defer Implementation of Basel III Reforms
By Editors | 06/10/2022
Standards associated with credit risk, operational risk, the output floor, and the leverage ratio will implemented no earlier than 1 January 2024.
AML / KYC
HKMA Publishes Initial Observations from AMLab Series
By Manesh Samtani | 02/10/2022
The HKMA plans to run a network analytics-themed AMLab again later this year to give more banks an opportunity to take part.
Capital / Liquidity
HKMA Consults on Pillar 3 Disclosure Requirements for Basel III
By Editors | 30/09/2022
Following consultation, the HKMA plans to submit revisions to the disclosure requirements in early 2023, ahead of Basel III implementation on 1 July 2023.
Securities / Derivatives
HKMA Unveils Details of Financial Forum to be Held in November
By Manesh Samtani | 29/09/2022
Financial Secretary Paul Chan said this week that “bold reforms” are in the pipeline to attract talent and enterprises to the city.
Crypto / Digital Assets
BIS Announces Successful Completion of mBridge CBDC Pilot
By Editors | 29/09/2022
The month-long testing phase facilitated more than 160 transfers and FX exchanges worth USD 22 million on the mBridge Ledger.
AML / KYC
SFC Shines Regulatory Spotlight on Online Platforms
By Hannah Cassidy | 28/09/2022
Hannah Cassidy and Natalie Curtis discuss key areas of concern for the SFC in relation to the online platforms operated by licensed firms.
HKMA Launches Enhanced Competency Framework on Compliance
By Editors | 28/09/2022
The ECF-Compliance establishes a set of common and transparent competency standards for practitioners working in banks’ compliance functions.
Fintech / Regtech
HKMA Launches Fintech Training Subsidy Scheme
By Editors | 26/09/2022
The scheme will provide training subsidies to around 1,500 industry practitioners who have attained professional qualifications in fintech.
Capital / Liquidity
HKMA Amends Interest Rate Stress Testing Requirement
By Editors | 26/09/2022
Banks must stress test mortgage borrowers’ debt servicing ability assuming a 200 bps rise in the mortgage rate, rather than 300 bps.
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