The 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, 2022The HKMA expects banks to be able to model liquidity and funding needs in a resolution scenario over various time horizons.
January 16, 2022In a new chapter of its code of practice, the HKMA sets out its expectations on the arrangements banks must have in place to maintain operational continuity in resolution.
November 9, 2021Locally incorporated AIs should ensure their trust subsidiaries comply with the code of practice. Supervisory action may be taken for noncompliance.
November 8, 2021The framework was developed through collaboration between life insurers comprising 95 percent of the gross written premium in the retail life industry.
April 24, 2021Operational continuity in resolution is a key aspect of resolution planning for individual banks, the HKMA says.
February 2, 2021