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Payments & Settlements
Hong Kong, Macau Enable Real-time Payments Between Banks
By Editors | 03/11/2022
Macau already has a local RTGS system for local payments denominated in HKD. The new system enables real-time settlement of HKD payments between Macau and Hong Kong banks.
Structural Regulation
Hong Kong to Subject Foreign Investment Gains to Profits Tax
By Manesh Samtani | 02/11/2022
A new LegCo bill will require MNE entities in Hong Kong to pay profits tax on foreign equity disposals and dividend income, unless they are specifically exempted.
Cryptocurrency
SFC Considers Allowing Retail Access to Crypto, Starting with ETFs
By Manesh Samtani | 01/11/2022
ETFs with crypto exposure through CME-listed BTC and ETH futures can be distributed to Hong Kong retail clients. The “professional investor only” requirement is under review.
Cryptocurrency
Hong Kong FSTB Issues Policy Statement on Approach to Virtual Assets
By Manesh Samtani | 31/10/2022
The SFC will be consulting on how retail investors may be given a “suitable degree of access” to virtual assets under Hong Kong’s new licensing regime.
Credit Risk
Hong Kong to Tighten Lending Rate Caps from 30 December
By Editors | 29/10/2022
Banks should start notifying customers of the new interest rate limits as soon as practicable and not later than 14 November.
Credit Risk
HKMA Streamlines Requirements on Use of Tech in Lending
By Editors | 28/10/2022
The streamlined requirements will help lenders accelerate the adoption of advanced data analytics in credit underwriting.
Conduct, Culture & Accountability
HKMA Issues Regtech Guide for Sales and Suitability Practices
By Manesh Samtani | 28/10/2022
The guide describes a solution to automating product due diligence and a governance tool for improving oversight of the sales advisory process.
Structural Regulation
HKMA Confirms Health Arrangements for Upcoming Financial Forum
By Editors | 28/10/2022
Hong Kong Financial Secretary Paul Chan, who is due to deliver a keynote speech at the event, has tested positive for Covid-19 while in Saudi Arabia.
Clearing & Post-Trade
Don’t Overlook the Value of LEI
By Joseph Capablanca | 28/10/2022
DTCC’s Joseph Capablanca discusses the importance of the LEI for improving transparency, cutting costs, and reducing operational risk in the global financial industry.
AI Risk & Governance
NLP for Regulatory Compliance: A Question of When, Not If
By Irene Liu | 27/10/2022
Accenture’s Irene Liu and team discuss the use of NLP technology within compliance functions, as well as the adoption challenges and how to address them.
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