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ESG / Sustainability
Hong Kong Plans Measures to Lure ESG, Fintech Talent
By Editors | 06/09/2022
The government will also dedicate resources towards providing training aimed at developing local ESG talent. Applications for a fintech subsidy scheme will open on 10 September.
Market Infrastructure
CSRC Unveils Plans to Further Expand Stock Connect
By Manesh Samtani | 05/09/2022
More companies will be added to Stock Connect and Hong Kong will introduce treasury bond futures and a special counter for yuan stocks.
Hong Kong Targets Removal of Hotel Quarantine Requirement
By Editors | 05/09/2022
Chief Executive John Lee is leaning towards scrapping hotel quarantine before a November summit of global bankers and the Hong Kong Rugby Sevens tournament.
HKMA Introduces New Rules for Banks Offering BNPL Products
By Manesh Samtani | 05/09/2022
Banks that engage or partner with third-party service providers when launching BNPL products will be held accountable for the actions of those providers.
Securities / Derivatives
New Guidance Issued on HKMA Funds Certification
By Editors | 02/09/2022
The guidance is intended to help funds and their auditors prepare the necessary reports needed to obtain carried interest tax concessions.
Fintech / Regtech
SFC Finds Deficiencies in Investment Services Offered Online
By Sanday Chongo Kabange | 02/09/2022
The SFC is calling on licenced corporations to address regulatory deficiencies identified in some investment services offered online.
Fintech / Regtech
HKMA Issues Guidance on Managing Cloud Computing Risks
By Manesh Samtani | 02/09/2022
Banks’ agreements with CSPs should ensure the HKMA can access information stored in the cloud and relevant risk management controls for on-site examinations.
Fintech / Regtech
HKMA to Launch API Link from CCRA to CDI in Q4
By Manesh Samtani | 01/09/2022
Banks are encouraged to access credit data in the CCRA database via the CDI, to help them automate credit approvals and enhance efficiency.
AML / KYC
HKMA Warns of Deposit Scams Being Used by Fraudsters
By Editors | 30/08/2022
Fraudsters claiming to be financial advisors are soliciting deposits in unknown foreign banks by promising high deposit rates.
Enforcement
HKMA Fines Commerzbank for CDD & PEP Screening Failures
By Editors | 29/08/2022
The HKMA found control lapses in onboarding due diligence as well as ineffective procedures for determining whether beneficial owners were PEPs.
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