Hong Kong Monetary Authority

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    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.

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    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.

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    Capital / Liquidity

    HKMA Updates Timetable for Implementing Basel III Reforms

    By Editors | 06/08/2023

    The HKMA asks the banking industry for comments on the latest timetable by 4 September 2023.

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    Capital / Liquidity

    BIS Paper Draws Lessons from HKMA Approach to NBFI Monitoring

    By Manesh Samtani | 03/08/2023

    The HKMA framework highlights how multiple data sources can be used to extract valuable information and signals for timely NBFI monitoring.

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    ESG / Sustainability

    HKMA Launches Competency Framework for Sustainable Finance

    By Ranamita Chakraborty | 31/07/2023

    HKMA is seeking to establish standards for green finance roles in banks and to help practitioners gain knowledge.

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    AML / KYC

    HKMA, SFC Offer New Guidance on Suitability Obligations

    By Manesh Samtani | 30/07/2023

    HKMA and SFC say intermediaries can tailor their point-of-sale procedures to the personal circumstances of sophisticated professional investors.

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    Fintech / Regtech

    HKMA to Collaborate With Saudi Central Bank on Market Connectivity

    By Sanday Chongo Kabange | 28/07/2023

    The two central banks will also collaborate on financial infrastructure development, sustainable development and fintech.

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    Capital / Liquidity

    HKMA, SFC Set Out Expectations Under New Regime for Depositaries

    By Manesh Samtani | 28/07/2023

    Applications now being accepted under the new regulatory regime for depositaries of collective investment schemes.

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    Securities / Derivatives

    Enhancements to Wealth Connect, Bond Connect Coming ‘Soon’

    By Editors | 25/07/2023

    Regulators to include more products in Wealth Connect and southbound Bond Connect, while allowing more investors to participate.

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    Enforcement

    FFC Asia 2023: HKMA Says Information Sharing Key to Fighting Fraud

    By Karen Ng | 13/07/2023

    HKMA says information sharing among banks will be key to tackling the new challenges in the fraud and financial crime landscape.

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