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ESG / Sustainability
HK Green Banks Alliance Hosts First Roundtable
By Sanday Chongo Kabange | 29/04/2021
HKMA Chief Eddie Yue urged banks to transform into ‘green banks’. HSBC and BOCHK announced plans to expand their green finance business.
Capital / Liquidity
Hong Kong Launches 100% Personal Loan Guarantee Scheme
By Editors | 27/04/2021
The scheme provides a supplementary financing option for individuals suffering income loss resulting from the Covid-19 pandemic.
Market Infrastructure
HK, China to Launch Southbound Bond Connect in July – Report
By Sanday Chongo Kabange | 27/04/2021
The relevant regulations will reportedly be issued in May, with a view to launching the southbound bond trading link on 2 July.
AML / KYC
HKMA Offers Guidance on Combatting Covid-19 Related Fraud, AML
By Manesh Samtani | 26/04/2021
The guidance emphasises the use of data from internal and external sources, proactive data analysis and information sharing to tackle emerging AML risks.
AML / KYC
Hong Kong: Six Arrested for Laundering HK$2.5bn
By Sanday Chongo Kabange | 26/04/2021
The six arrested persons opened 60 personal accounts at various banks and made over 2,600 suspicious transactions.
Enforcement
SFC, HK Police Make Arrest Four More in Ramp-and-dump Probe
By Editors | 23/04/2021
Three of the four are senior executives of a listed company. They are said to have embezzled over HKD 19 million of the listed company’s funds.
AML / KYC
SFC Imposes Lifetime Ban on Co-CEOs of IDS Forex Ltd
By Editors | 23/04/2021
The co-CEOs knew of their chairman’s arrest and conviction in Korea for fraud but did not report the events to the SFC.
Market Infrastructure
HKMA Directs Banks to Prepare for OpRisk Rule Updates
By Manesh Samtani | 22/04/2021
The HKMA plans to revise its SPM module on Operational Risk Management to incorporate elements of the revised PSMOR issued by the BCBS.
Capital / Liquidity
HKMA Issues Guidance on Govt Guaranteed Personal Loans
By Manesh Samtani | 20/04/2021
Lenders should not take any actions which tighten credit to borrowers on knowledge of their application for PLGS loans.
Enforcement
Former AIA Agent Convicted For Fraud Over Signing Fee
By Editors | 19/04/2021
The former representative submitted false income proof statements to deceive AIA into offering him a higher signing fee.
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