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ESG / Sustainability
HKMA Asks Banks to Apply Basel Climate Risk Guidance
By Editors | 22/06/2022
The HKMA will assess the need to align its supervisory framework with BCBS Principles for managing and supervising climate-related financial risks.
Market Infrastructure
Hong Kong Travel Restrictions Hindering Wealth Connect – Reports
By Sanday Chongo Kabange | 22/06/2022
Wealth Management Connect had attracted only 0.3 percent of the total quota since its inception in October. HKIFA calls for an end to quarantine rules.
AML / KYC
HK Customs Arrests Woman for Suspected Laundering of HK$350m
By Editors | 21/06/2022
The woman used 23 personal bank accounts to launder the money over three years, mostly for shell companies set up by individuals from mainland China.
ESG / Sustainability
Hong Kong Advances Work to Develop Green Finance Capacity, Talent
By Editors | 21/06/2022
Hong Kong will develop a GHG emissions estimation tool, a green classification framework, and adopt the ISSB standards when they’re ready.
AML / KYC
Hong Kong: Victims Lost HK$1.28bn from Fraud from Jan-April
By Editors | 21/06/2022
Email fraud accounted for HKD 333 million of losses to companies and individuals in the first four months of this year.
Market Infrastructure
HKEX to Enhance Clearing Flexibility for Stock Trades – Report
By Editors | 21/06/2022
HKEX plans to allow market participants to appoint multiple clearing banks for stock trades, a move already made for futures traders.
Securities / Derivatives
Russian Exchange Starts Offering Trading in 12 Hong Kong Stocks
By Editors | 21/06/2022
HKEX is not involved in the initiative. The move is part of the Saint Petersburg Stock Exchange’s global issuer programme.
Securities / Derivatives
HKEX Targets Launch of Additional A-Share Products – Report
By Editors | 21/06/2022
HKEX will encourage investment banks to issue structured products such as derivative warrants based on the MSCI A50 index.
Crypto / Digital Assets
BIS Innovation Hub Announces New Set of Projects
By Editors | 20/06/2022
The first three Eurosystem Centre projects will focus on crypto markets, quantum-resistant cryptography for payments, and climate-related disclosures.
Capital / Liquidity
HKMA Seeks Bank Feedback on Lower Lending Rate Caps
By Manesh Samtani | 20/06/2022
Proposed amendments would lower the interest rate cap from 60 to 48 percent p.a., and the so-called ‘extortionate’ rate from 48 to 36 percent p.a.
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