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Market Infrastructure
SFC Launches ‘Key Risk Indicator’ Reporting Platform
By Editors | 02/09/2019
Initially, licensed corporations of 22 global FIs will have to submit data relating to their operations, conduct issues and prudential risk exposures on a monthly, quarterly and yearly basis.
Capital / Liquidity
HKMA Allows Lenders to Expand Use of Tech in Retail Lending
By Editors | 30/08/2019
The HKMA is allowing lenders to further develop business involving the use of innovative financial technology to assess and approve personal loan applications.
Capital / Liquidity
HKMA Introduces New Liquidity Facilities for Banks
By Manesh Samtani | 27/08/2019
The updated Liquidity Facilities Framework is part of ongoing work to maintain the integrity and stability of Hong Kong’s monetary and financial systems, said HKMA chief Norman Chan.
AML / KYC
HKMA Issues Clarification on Non-Face-to-Face Onboarding
By Editors | 24/08/2019
In line with SFC requirements, the HKMA says banks need not re-verify a client’s identity when opening an investment account if they’ve already done so for bank account opening.
Market Infrastructure
SFC Highlights Liquidity Risk Management Deficiencies at Funds
By Editors | 24/08/2019
The SFC asks fund managers to review their current policies, procedures, systems and processes and take immediate action to rectify any inadequacies or deficiencies.
Enforcement
HK Court Orders Confiscation of HK$1.46m from Former UBS Exec
By Editors | 21/08/2019
The case relates to the 2017 conviction of a former UBS associate director for accepting over HK$1.4mn in bribes from a Shenzhen-based client.
Enforcement
SFC, ICAC Formalise Cooperation Arrangement with MoU
By Editors | 20/08/2019
The MoU covers case referrals, joint investigations, the exchange and use of information, mutual provision of investigative assistance, and capacity building.
Capital / Liquidity
HKMA Adjusts Initial Margin Implementation Schedule
By Editors | 19/08/2019
The HKMA has adjusted its implementation schedule for the incoming requirements, taking into account the one-year phased extension announced by BCBS and IOSCO in July.
Securities / Derivatives
HKEX Proposes Changes to Pre-Open Session, Volatility Controls
By Editors | 19/08/2019
The proposals aim to improve market liquidity and global competitiveness of the Hong Kong market, HKEX says in a new consultation paper.
Enforcement
Hong Kong Banks Under Scrutiny for Chinese Lending – Report
By Manesh Samtani | 16/08/2019
The HKMA has reportedly been investigating several Hong Kong lenders for financing large scale overseas asset purchases by Chinese conglomerates.
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