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Hong Kong Anti Covid Restrictions Take Toll on Banks
By Sanday Chongo Kabange | 18/01/2022
Banks including Goldman Sachs, Bank of America, Morgan Stanley and UBS are struggling to bring key executives into Hong Kong due to flight bans.
Securities / Derivatives
HKEX to Roll Out New Electronic Communication Platform
By Editors | 17/01/2022
The new platform will be rolled out in phases starting in early Q1, improving usability and paving the way for new functionalities to be added, HKEX says.
AML / KYC
HKMA Fines Prepaid Card Issuer 33FS for AML/CTF Deficiencies
By Editors | 17/01/2022
The case involved control deficiencies in respect of 33 Financial Services Limited’s transaction monitoring and name screening systems, the HKMA said.
Capital / Liquidity
HKMA Issues Draft Guidance on Liquidity and Funding in Resolution
By Manesh Samtani | 16/01/2022
The HKMA expects banks to be able to model liquidity and funding needs in a resolution scenario over various time horizons.
AML / KYC
OFAC Fines HK Unit of Japanese Conglomerate Sojitz
By Editors | 13/01/2022
Trading in Iran-origin goods was carried out without the knowledge of senior management by employees who omitted information from documentation.
Fintech / Regtech
HKMA to Introduce Regulatory Framework for Stablecoins
By Mark Johnston | 13/01/2022
Only Hong Kong incorporated entities licensed by the HKMA would be allowed to actively market stablecoins to the local public.
Securities / Derivatives
HKEX, SZSE Expand Capital Markets Cooperation Agreement
By Editors | 12/01/2022
HKEX and SZSE will conduct joint forums and workshops, and take part in reciprocal short-term training and secondment programmes for their employees.
HK Banks Extend Repayment Deferment for Trade Facilities
By Editors | 12/01/2022
The HKMA cited uncertainties caused by the spread of Covid-19 and global supply chain disruptions that are continuing to pressure corporates.
Market Infrastructure
HKEX to Launch Derivatives Holiday Trading by Easter
By Manesh Samtani | 07/01/2022
All MSCI futures and options will be included as the first batch of Holiday Trading Products. A market readiness test will be held in late February 2022.
Capital / Liquidity
HKMA Unveils Results of Climate Risk Stress Tests
By Manesh Samtani | 03/01/2022
The HKMA has also finalised its guidance on climate risk management, giving banks until end-2022 to implement the new measures.
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