Hong Kong

Enforcement

SFC Imposes Lifetime Ban on Former China Citic Bank Employee

By Editors | 26/08/2020

The former relationship manager is said to have falsely represented to customers that an additional fee was needed to open an account with CITIC – which he then pocketed.

Capital / Liquidity

Hong Kong IA Proposes New Capital Rules for Insurance Groups

By Manesh Samtani | 24/08/2020

The rules set out capital, regulatory reporting and public disclosure requirements that apply to insurance groups where the holding company is incorporated in Hong Kong.

Fintech / Regtech

Hong Kong AoF Publishes Report on AI Adoption in Banking

By Editors | 23/08/2020

The report provides insights about the risk management frameworks and overarching supervisory principles banks use when adopting artificial intelligence.

Securities / Derivatives

HK Bourse Finalises Changes to Professional Debt Regime

By Manesh Samtani | 23/08/2020

The issuer net assets requirement will be raised, a minimum issuance size will be introduced, and state corporations will be required to meet issuer eligibility requirements.

AML / KYC

SFC Grants In-principle Approval to Virtual Asset Trading Platform

By Editors | 23/08/2020

Once conditions for final approval are satisfied, OSL will be able allowed to operate a brokerage and automated trading service for digital assets.

Securities / Derivatives

HKEX Adds Two More Taiwan Futures Contracts to MSCI Suite

By Manesh Samtani | 20/08/2020

HKEX is seeking CFTC certification for the new contracts. The move intensifies competition with SGX, which already has a CFTC-certified futures contract for Taiwan.

Capital / Liquidity

HKMA Eases LTV Rule for Commercial Real Estate Loans

By Editors | 19/08/2020

Effective from 20 August, the loan-to-value ratio cap is being raised from 40 to 50 percent. The 40 percent cap was introduced in 2009 as a market cooling measure.

AML / KYC

Risk and Reward: AI Enables Active Financial Crime Risk Assessment

By Daniel Banes | 18/08/2020

Adverse media is openly available, continually updated, and provides a wealth of information, but it remains underused in financial crime risk assessments, writes Daniel Banes.

Securities / Derivatives

Hang Seng Index to Include Alibaba, Xiaomi from 7 September

By Editors | 16/08/2020

The changes reflect a May decision to allow weighted voting rights and secondary-listed companies from the Mainland to be included as HSI and HSCEI constituents.