Hong Kong Monetary Authority

AML / KYC

HKMA, IA Issue Guidance on Video Distribution of Insurance Products

By Editors | 07/08/2020

Insurers and intermediaries such as banks have to apply to enter the InsurTech Sandbox to test the use of video conferencing to distribute long term insurance policies.

Market Infrastructure

APAC Firms Lag in IBOR Transition Preparation – Report

By Manesh Samtani | 05/08/2020

Apart from G-SIBs operation in the region, APAC firms are not prepared for the transition away from IBORs, according to a new report from Sia Partners.

Market Infrastructure

HKMA Defers Trade Facility Repayments by a Further 90 Days

By Editors | 05/08/2020

Banks have agreed to allow corporate customers who still face cash-flow pressures to further extend their trade facilities for a further 90 days, on top of the 90 days granted from May.

Fintech / Regtech

HKMA, BIS Innovation Lab Seek Solutions in Trade Finance

By Editors | 03/08/2020

Private firms are invited to submit innovative solutions that can help enhance trade finance mechanisms, connectivity and infrastructure.

ESG / Sustainability

Culture Audits: Removing the Blindfold

By Stephen Scott | 03/08/2020

To avoid individual liability, leaders along all Three Lines of Defence must identify indicators of non-financial risk that permit “upstream” interventions, say Stephen Scott and Mark Cooke.

Securities / Derivatives

HKMA Relaxes Rules on Retail Sales of Government Bonds

By Editors | 02/08/2020

Banks can forgo suitability assessments and audio recordings when distributing low-risk, non-complex retail tranches of Hong Kong or Mainland government bonds.

AML / KYC

HKMA Issues AML Guidance to Banks As Pandemic Persists

By Manesh Samtani | 30/07/2020

The guidance sets out key practices banks have been using to manage customer due diligence, resource pressure, and emerging threats in the context of Covid-19.

Big Picture

Third Global Financial Crisis May Be Imminent: ex-HKMA Chief

By Sanday Chongo Kabange | 30/07/2020

Former HKMA head Joseph Yam worries that the world may slip into a third financial crisis due to insufficient liquidity and dwindling spending caused Covid-19.

Fintech / Regtech

WeLab Bank Announces Public Launch of Virtual Banking Services

By Editors | 30/07/2020

WeLab Bank was the only stand-alone company to win a virtual bank licence from the HKMA. It commenced pilot services in April.