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Press Release
Wolters Kluwer Named Best Solution in Regulatory Reporting
By Editors | 10/12/2021
Wolters Kluwer enables FIs to address increasingly complex regulatory data and reporting requirements, leveraging an upgraded regulatory engine.
ESG / Sustainability
HKMA Shares ‘Sound Practices’ in Bank Climate Strategies
By Manesh Samtani | 09/12/2021
Banks are “strongly encouraged” to enhance their green and sustainability programmes to encompass climate risk management and the sound practices.
Fintech / Regtech
HKMA Launches Enhanced Competency Framework on Fintech
By Editors | 06/12/2021
Banks are “strongly encouraged” to adopt the ECF-Fintech as part of their overall efforts to support the professional development of employees.
Enforcement
SFC Bans Former Private Banker Over False Academic Qualifications
By Editors | 01/12/2021
The SFC considers the former relationship manager to not be fit and proper as her conduct was “plainly dishonest”.
Market Infrastructure
Wealth Connect to be Refined, Expanded Over Time: HKMA
By Mark Johnston | 01/12/2021
Account opening by attestation is expected to be piloted for the WMC’s Northbound scheme, allowing Hong Kong investors to participate without having to travel.
ESG / Sustainability
HKMA Offers Guidance on Regtech for Reporting, Stress Testing
By Manesh Samtani | 28/11/2021
The latest regtech adoption guide highlights challenges banks face as a result of their use of legacy systems and siloed data structures.
HKMA Publishes Interim Report on Front Office Incentives Review
By Manesh Samtani | 24/11/2021
Frontline staff with more positive perceptions of customer and conduct outcomes had incentives that emphasised both financial and non-financial factors.
Securities / Derivatives
Hong Kong Issues First Euro Denominated Green Bonds
By Sanday Chongo Kabange | 22/11/2021
A 20-year tranche issued under the Green Bond Programme is the longest tenor euro-denominated bond issued by an Asian government to date.
HKMA Restricts Data Sharing for Direct Marketing Purposes
By Manesh Samtani | 22/11/2021
Banks may not share customers’ personal data with third parties including their own group companies for direct marketing purposes.
AML / KYC
The Rising Standards of AML/CFT Compliance in Hong Kong
By Susanne Harris | 22/11/2021
Mayer Brown’s Susanne Harris, Wei Na Sim, Alan Linning and Charlene Wong discuss key developments in the AML/CFT space in Hong Kong in 2021.
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