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Hong Kong
ESG / Sustainability
SFC Commits to Reaching Carbon Neutrality by 2050
By Editors | 27/04/2023
The SFC will make periodic disclosures on the status of its carbon reduction efforts and progress towards meeting its climate targets, said CEO Julia Leung.
HK to Guarantee Loans to Travel, Transport Industries
By Editors | 27/04/2023
New scheme will provide guarantees on loans to cross-boundary passenger transport operators and licensed travel agents.
Enforcement
SFC Bans Another Ex-Convoy Licensee Over Manipulation Scheme
By Editors | 26/04/2023
Peter Law convinced clients to buy and hold a stock that was being manipulated by collaborators in exchange for a commission.
AML / KYC
HK Bank-to-bank Information Sharing Platform to Launch in June
By Manesh Samtani | 26/04/2023
Authorities are also considering co-locating bank staff at the ADCC, as this has helped to reduce stop payment response times and enhance loss recoveries in other jurisdictions like Singapore.
AML / KYC
HKMA Sets Loss-Sharing Expectations for Payment Card Fraud
By Manesh Samtani | 26/04/2023
To the extent that the cardholders have not acted fraudulently or with gross negligence, they “should not be held liable for the unauthorised transactions”.
Fintech / Regtech
HKMA, PBOC Explore Use of CBDC for Cross-border Payments
By Editors | 26/04/2023
HKMA deputy chief Darryl Chan said there is scope to expand the Wealth Management Connect scheme and use CDI data for cross-border finance.
Market Infrastructure
Stock Connect Trading Calendar Enhancements Take Effect
By Editors | 25/04/2023
The enhancements will add about 10 trading days to northbound and southbound Stock Connect each year.
ESG / Sustainability
GBA Green Finance Alliance Launches Technology Working Group
By Editors | 25/04/2023
At a meeting hosted by the HKGFA, the Alliance launched a technology working group and unveiled plans to form another working group focused on transition finance.
AML / KYC
OFAC Sanctions Three for Facilitating Lazarus Group Activities
By Editors | 25/04/2023
China-based and Hong Kong-based crypto traders and a North Korean national were sanctioned for laundering illegal proceeds for Lazarus Group.
ESG / Sustainability
HKMA Enhances Climate Risk Stress Testing Framework
By Manesh Samtani | 24/04/2023
Key enhancements include the introduction of a new five-year scenario, additional assessment requirements, and more detailed reporting requirements.
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