HKMA's Carmen Chu says an external consultant has been engaged to help prepare a new guidance paper on AML/CFT controls for PEPs.
May 31, 2023The toolkit is designed to support banks and insurers in creating a greenwashing scenario and help them tackle ESG-related operational risk.
May 31, 2023The guidance says money remittance services, banks, DPT service providers, precious stone and metals dealers, and non-profit organisations are vulnerable to TF threats.
May 29, 2023Panellists at Regulation Asia’s PITCH! REGTECH conference said RegTech needs to be "creative" to help FIs manage ESG data.
May 25, 2023The FSC said there was a need to enhance banks' loss absorption capacity to prepare for macroeconomic uncertainties and increased risks in the financial sector.
May 25, 2023The code will be enforceable and set clear expectations on the obligations of banks, telcos and social media platforms.
May 22, 2023The NFRA absorbs the CBIRC in its entirety, and takes over certain functions from the PBOC and CSRC.
May 19, 2023The changes are part of a drive to reduce income disparity as well as a broader overhaul of the financial regulatory system announced in March.
May 19, 2023CPS 900 will formally come into effect from 1 January 2024, but individual entities would only be subject to the requirements when notified by APRA.
May 18, 2023The guide will be updated to take into account the new general sustainability-related (S1) and climate-related (S2) disclosure standards from the ISSB.
May 17, 2023