Hong Kong

ESG / Sustainability

HKMA Offers Guidance for Banks on Climate Risk Practices

By Manesh Samtani | 08/07/2020

The HKMA has published its observations on the approaches used by major banks to manage climate risk, as guidance for the banking sector as a whole.

Capital / Liquidity

BCBS Releases 18th Progress Report on Basel III Adoption

By Editors | 06/07/2020

In Asia Pacific, Hong Kong, Korea and Indonesia have in particular made significant progress towards implementing the Basel III standards.

AML / KYC

Global Banks Seek Clarity on ‘Hong Kong Autonomy Act’

By Editors | 05/07/2020

Under the legislation, banks can be penalised for conducting a ‘significant transaction’ with Chinese individuals or entities named as having contributed to the erosion of Hong Kong’s autonomy.

Securities / Derivatives

SFC Asks HKEX to Raise Guard Against Conflicts of Interest

By Editors | 04/07/2020

The SFC says Listing Department personnel should not attend business meetings with prospective listing applicants, and HKEX should further reinforce ‘Chinese Walls’.

Big Picture

Virtual Banks Could Shake Up Funds Industry – Report

By Editors | 03/07/2020

Successful virtual banks are likely to branch out into wealth management services, robo-advisory and fund distribution, says a new Calastone paper.

Fintech / Regtech

Hong Kong Offers Wage Subsidy to Local Fintechs

By Editors | 02/07/2020

Fintech companies registered in Hong Kong can apply for a salary subsidy to fill a new full-time position for a maximum of 12 months.

ESG / Sustainability

HKMA Sets Out Principles for Supervisory Approach on Climate

By Manesh Samtani | 01/07/2020

The HKMA expects the results of the industry greenness self-assessments in August 2020, which will inform its supervisory expectations ahead of a consultation next year.

Securities / Derivatives

Wave of Fund Managers Looking to Set Up Singapore VCCs

By Editors | 01/07/2020

Up to 70 VCCs have already been launched in Singapore, many by small and boutique funds or local family offices. But a much larger wave of companies is on its way.

AML / KYC

National Security Legislation Promulgates in Hong Kong

By Editors | 30/06/2020

A legislative notice has been posted in the Hong Kong gazette, saying the national law applies in the city as part of the Basic Law from 11pm on 30 June 2020.