Hong Kong

ESG / Sustainability

HKMA Issues Guidance for Banks on Climate Risk Governance

By Sanday Chongo Kabange | 23/08/2024

The guidance is aimed at helping banks to develop and enhance their governance structures and oversight frameworks for climate risk.

Crypto / Digital Assets

SFC Finds ‘Unsatisfactory Practices’ at Some Crypto Firms

By Editors | 23/08/2024

The SFC found an overreliance on just a few executives for custody and inadequate safeguards against cybercrime risks.

AML / KYC

Hong Kong, Macao Authorities Arrest Seven in Joint Operation

By Sanday Chongo Kabange | 23/08/2024

The SFC, ICAC and the Macao Judiciary Police arrested seven individuals for suspected fraud, including the chairman of a listed company.

Market Infrastructure

HK Securities Firms Set to be Added to Wealth Connect Scheme

By Editors | 22/08/2024

Ten securities companies including China CITIC Securities, CICC, Huatai Securities and GF Securities will initially be added to the scheme.

Securities / Derivatives

Hong Kong MPFA to Pursue Further Pension System Reforms

By Sanday Chongo Kabange | 21/08/2024

The MPFA will make it easy for members to switch providers and expand the choices of REITs available to scheme members.

Enforcement

HK Court Jails Ex-Sunway Employee for Laundering $125m

By Sanday Chongo Kabange | 21/08/2024

The court sentenced a personal assistant to five years in prison for helping his boss unlawfully obtain loans from a listed company and launder the proceeds.

AML / KYC

Banks Exercise Caution in Transition to AI-Based AML Systems

By Bradley Maclean | 20/08/2024

Participants at a recent Regulation Asia roundtable in Hong Kong expressed caution, but also optimism, about the use of AI for AML purposes.

Market Infrastructure

Stock Connect’s 2nd Phase of Market Data Changes Now in Effect

By Sanday Chongo Kabange | 20/08/2024

The changes may lower volatility and help stabilise the A-share market, but may also lower the market’s appeal to some foreign investors.

Capital / Liquidity

HKMA Consults on Revisions to Based III SPM Module

By Editors | 20/08/2024

The revisions take into account changes to the capital standards that were gazetted in December 2023 as part of the implementation of the Basel III final package.