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Enforcement
SFC Disciplines Takeovers Code Breach with ‘Public Criticism’
By Editors | 30/10/2022
Gold Dragon Worldwide Asset Management failed to disclose trades in a stock during an offer period despite it controlling more than 5 percent of the stock.
AML / KYC
Hong Kong CR to Shield Some Director Info from Public View
By Editors | 30/10/2022
Residential addresses and full ID numbers will be replaced with correspondence addresses and partial ID numbers. FIs can still apply for access to the full data.
ESG / Sustainability
HKEX Launches Carbon Market to Support Net Zero Transition
By Sanday Chongo Kabange | 30/10/2022
The new platform will allow participants to source, hold, trade, settle and retire voluntary carbon credits from internationally-certified carbon projects.
Hong Kong to Tighten Lending Rate Caps from 30 December
By Editors | 29/10/2022
Banks should start notifying customers of the new interest rate limits as soon as practicable and not later than 14 November.
Market Infrastructure
HKEX Suspends VCM on HSI Futures Due to Software Issue
By Editors | 28/10/2022
An external vendor is preparing a software update to fix an issue that caused the VCM to be inadvertently triggered on Tuesday.
HKMA Streamlines Requirements on Use of Tech in Lending
By Editors | 28/10/2022
The streamlined requirements will help lenders accelerate the adoption of advanced data analytics in credit underwriting.
Fintech / Regtech
HKMA Issues Regtech Guide for Sales and Suitability Practices
By Manesh Samtani | 28/10/2022
The guide describes a solution to automating product due diligence and a governance tool for improving oversight of the sales advisory process.
HKMA Confirms Health Arrangements for Upcoming Financial Forum
By Editors | 28/10/2022
Hong Kong Financial Secretary Paul Chan, who is due to deliver a keynote speech at the event, has tested positive for Covid-19 while in Saudi Arabia.
AML / KYC
NLP for Regulatory Compliance: A Question of When, Not If
By Irene Liu | 27/10/2022
Accenture’s Irene Liu and team discuss the use of NLP technology within compliance functions, as well as the adoption challenges and how to address them.
AML / KYC
Hong Kong Customs Arrests Two for Laundering HK$3.5bn
By Editors | 27/10/2022
The money was laundered by reselling precious metals. The case is the largest-ever money laundering case for Hong Kong Customs.
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