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AML / KYC
HKMA Launches Campaign to Raise Awareness of Phishing
By Sanday Chongo Kabange | 08/07/2021
HKMA statistics show that phishing frauds in the first six months of 2021 were up 145% from the first half of 2020.
HKMA Issues SPM on Supervision of Banks’ Insurance Business
By Editors | 01/07/2021
The HKMA’s enforcement standards with respect to insurance intermediary business of banks mirror those adopted by the IA.
Fintech / Regtech
HKMA Sets Out ‘Four Actions’ to Realise Regtech 2025 Vision
By Manesh Samtani | 01/07/2021
At the HKMA’s flagship regtech conference, Eddie Yue outlined the initiatives underway to promote regtech adoption, including to explore a corporate version of iAM Smart.
China, EU to Finalise Climate Taxonomy By Year-End
By Sanday Chongo Kabange | 30/06/2021
A PBOC official reportedly said experts working on the common taxonomy are expected to complete the final version by the end of this year.
ESG / Sustainability
HK to Accelerate Plans for Mandatory Climate Disclosures – Report
By Sanday Chongo Kabange | 28/06/2021
The HKMA’s Darryl Chan reportedly said mandatory climate disclosure requirements could arrive in Hong Kong as early as next year.
Capital / Liquidity
Hong Kong: ‘Stay Rules’ to Come into Operation on 27 August
By Manesh Samtani | 27/06/2021
Banks have to adopt provisions in financial contracts binding counterparties to temporary stays on termination rights that may be imposed by the HKMA during a bank resolution.
HKMA, SFC Finalise Latest Changes to FSP List
By Editors | 25/06/2021
A unit of Toronto-Dominion Bank will be included on the FSP list. An entity that has merged with Deutsche Bank will be removed.
Market Infrastructure
HKMA Notifies Banks of Enhanced Competency Framework
By Editors | 22/06/2021
Banks are asked to review and assess the impact of the SFC’s revised framework and take action to ensure compliance.
Crypto / Digital Assets
InvestHK Launches 2021 Fintech Fast Track Programme
By Sanday Chongo Kabange | 21/06/2021
Selected companies will be showcased prominently at Hong Kong Fintech Week 2021 which takes place from 1 to 5 November.
Fintech / Regtech
HKMA to Conduct Industry Stock-take on Fintech Adoption
By Editors | 21/06/2021
All licensed banks with significant operations in Hong Kong must prepare and submit a questionnaire on fintech adoption by 31 December.
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