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Fintech / Regtech
HKMA to Develop Additional Safeguards for Bank Customers
By Manesh Samtani | 20/04/2022
A fresh review of the Banking Code of Practice has been launched, covering information disclosure, customers’ finance management, and dispute handling.
AML / KYC
Hong Kong is Moving to a Robust Regulatory Framework for Crypto
By Etelka Bogardi | 19/04/2022
Etelka Bogardi and Amy Chung say Hong Kong’s efforts to regulate the crypto sector and stablecoin market are on the whole in line with international trends while leaving room for further development.
AML / KYC
HKMA Asks Banks to Help Reactivate Dormant Mainland Accounts
By Editors | 18/04/2022
Hong Kong customers are facing difficulties reactivating their Mainland accounts due to travel restrictions preventing them from visiting the banks’ branches in person.
Fintech / Regtech
PwC Publishes 2022 Rankings of Global Retail, Wholesale CBDCs
By Sanday Chongo Kabange | 14/04/2022
The highest ranking retail CBDC projects were from Nigeria, the Bahamas, and China. The highest ranking wholesale CBDC projects were from Thailand, Hong Kong and Singapore.
ESG / Sustainability
Hong Kong Launches Climate Risk Data Source Repository
By Editors | 06/04/2022
The repository contains a set of available data sources to help FIs manage climate-related risks and set climate-related goals and strategies.
HMKA, IA Issue Rules on Use of Premium Financing in Insurance
By Mark Johnston | 06/04/2022
The rules will promote better disclosures and facilitate informed decision-making by customers who intend to use premium financing for life policies.
Market Infrastructure
HKMA Issues Guidance on Customer Data Protection
By Editors | 04/04/2022
The guidance highlights the need for banks to put in place effective data governance frameworks and control measures to protect their customer data.
Market Infrastructure
HKMA, SFC to Add Calculation Periods to Clearing Rules
By Editors | 03/04/2022
The HKMA and SFC also proposed to add Nomura Financial Products Europe GmbH to the FSP List under the OTC derivatives clearing regime.
ESG / Sustainability
Hong Kong to Develop VCM, Unify GBA Carbon Market
By Manesh Samtani | 31/03/2022
Hong Kong’s VCM will target local, Mainland and overseas buyers of carbon credits. Authorities will also work to establish a unified carbon market for the GBA.
Securities / Derivatives
HKMA Updates Trade Reporting Specifications for OTC Derivatives
By Editors | 30/03/2022
A revised Administration and Interface Development Guide will take effect from 19 December 2022, taking into account pandemic-related operational challenges.
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