The Credit Reference Platform is a key step towards introducing multiple CRAs in Hong Kong, a plan set into motion by TransUnion's 2018 data breach.
November 29, 2022The options seek to ensure BNPL is subject to appropriate regulation that balances consumer protection while still encouraging innovation.
November 29, 2022The new code establishes obligations for more inclusive banking products, expanded lending obligations and guarantor protections, and greater support for vulnerable customers.
November 7, 2022The FSC is seeking to strengthen controls around the interactions and communications between financial institutions and their major shareholders.
October 24, 2022The review was launched six months early in response to feedback from stakeholders. The findings are due to be reported by 1 March 2023.
October 20, 2022The new Life Code takes effect on 1 July 2023, providing the industry with twelve months to transition and make the necessary systems changes.
June 29, 2022Banks and their subsidiaries have until 1 June 2023 to comply with new regulatory requirements for their trust business and related activities.
May 30, 2022A new database will be established to maintain records on China's 360,000 brokers. The process for Hong Kong and Taiwan licensees to practice in the mainland is simplified.
May 13, 2022A fresh review of the Banking Code of Practice has been launched, covering information disclosure, customers’ finance management, and dispute handling.
April 20, 2022The updates will seek to address ransomware, cloud and 5G technology risks faced by critical information infrastructure sectors including banking & finance.
March 10, 2022