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Fintech / Regtech
HKMA, PBOC Agree to Link Regulatory Sandbox Across Borders
By Mark Johnston | 22/10/2021
The arrangement will facilitate cross-border financial innovation in the Greater Bay Area and strengthen supervisory exchanges.
Market Infrastructure
19 Hong Kong Banks Approved to Participate in Wealth Connect
By Manesh Samtani | 19/10/2021
Citibank, Hang Seng Bank, HSBC, ICBC, and Standard Chartered are among those that will participate in both the southbound and northbound schemes.
ESG / Sustainability
HK Regulators Offer Support for New Climate Action Plan
By Manesh Samtani | 13/10/2021
The Green and Sustainable Finance Cross-Agency Steering Group pledges support for the government’s Climate Action Plan 2050.
Securities / Derivatives
HKMA, SFC Outline Expectations on Sale of ILS Products
By Manesh Samtani | 11/10/2021
The circular follows the $30mn issuance of Hong Kong’s first catastrophe bond by Greater Bay Re, a state-sponsored special purpose vehicle.
Securities / Derivatives
SFC, HKMA Release Findings on Investment Product Sales
By Editors | 08/10/2021
Firms sold investment products with an aggregate transaction amount of HKD 5.7 trillion during 2020, with the participation of over 700,000 investors.
Market Infrastructure
Hong Kong Announces Initiatives to Bolster Financial Hub Status
By Manesh Samtani | 07/10/2021
Chief Executive Carrie Lam announced measures to improve the stock market listing regime and enable RMB-denominated securities in Hong Kong.
AML / KYC
HKMA Issues Guidance on Preventing eDDA Fraud
By Editors | 06/10/2021
The HKMA provides good practices banks can use to guard against different fraud scenarios when offering electronic direct debit authorisation services.
Fintech / Regtech
HKMA Seeks Input on Technical Design for Retail CBDC
By Manesh Samtani | 05/10/2021
The technical architecture proposed in a new whitepaper includes a privacy preservation arrangement that also allows for transaction traceability.
Customers Not Informed in Premium Financing Arrangements
By Editors | 03/10/2021
The HKMA and IA found in joint inspections that customers may not be sufficiently informed about the potential impact of premium financing arrangements.
Market Infrastructure
Hong Kong Capital Market to Increase Use of RMB
By Manesh Samtani | 02/10/2021
HKMA chief Eddie Yue speaks of expanding the use of the RMB in Hong Kong stock market trading and a multi-year programme to enhance the CMU.
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