HONG KONG MONETARY AUTHORITY

AML / KYC

China Imposes Reciprocal Sanctions Against US Officials

By Editors | 10/08/2020

“China has decided to impose sanctions on those individuals who behaved badly on Hong Kong-related issues,” said a spokesperson, without specifying what the sanctions would entail.

Fintech / Regtech

InvestHK Announced Fast Track Fintech Development Programme

By Editors | 10/08/2020

Companies from nine key fintech verticals are invited to submit applications by 31 August, for a chance to showcase their solutions to corporates and investors at Hong Kong Fintech Week.

Securities / Derivatives

HKMA Warns of Risks in Leveraged Investment Products

By Editors | 09/08/2020

Banks should take into account Covid-19 in product due diligence and client suitability assessments, and exercise caution when dealing in leveraged products.

AML / KYC

US Sanctions 11 Chinese, Hong Kong Officials

By Manesh Samtani | 08/08/2020

The HKMA says unilateral sanctions imposed by foreign governments have “no legal status” in Hong Kong and banks should endeavour to treat customers fairly.

AML / KYC

HKMA, IA Issue Guidance on Video Distribution of Insurance Products

By Editors | 07/08/2020

Insurers and intermediaries such as banks have to apply to enter the InsurTech Sandbox to test the use of video conferencing to distribute long term insurance policies.

Market Infrastructure

APAC Firms Lag in IBOR Transition Preparation – Report

By Manesh Samtani | 05/08/2020

Apart from G-SIBs operation in the region, APAC firms are not prepared for the transition away from IBORs, according to a new report from Sia Partners.

Market Infrastructure

HKMA Defers Trade Facility Repayments by a Further 90 Days

By Editors | 05/08/2020

Banks have agreed to allow corporate customers who still face cash-flow pressures to further extend their trade facilities for a further 90 days, on top of the 90 days granted from May.

Fintech / Regtech

HKMA, BIS Innovation Lab Seek Solutions in Trade Finance

By Editors | 03/08/2020

Private firms are invited to submit innovative solutions that can help enhance trade finance mechanisms, connectivity and infrastructure.

ESG / Sustainability

Culture Audits: Removing the Blindfold

By Stephen Scott | 03/08/2020

To avoid individual liability, leaders along all Three Lines of Defence must identify indicators of non-financial risk that permit “upstream” interventions, say Stephen Scott and Mark Cooke.