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Fintech / Regtech
UPDATED – ZA Bank Becomes First HK Virtual Bank to Launch Pilot Services
By Editors | 19/12/2019
ZA Bank, backed by ZhongAn and Sinolink Group, has launched services for 2,000 selected users to test under the HKMA’s sandbox mechanism.
Securities / Derivatives
SFC Concludes Consultation on OTC Derivatives Margin Requirements
By Manesh Samtani | 19/12/2019
IM requirements will be phased in for firms with AANA exceeding HK$375bn starting from 1 September 2020, the same date VM requirements take effect.
Capital / Liquidity
HKMA Moderates Approach to Implementing Market Risk Framework
By Editors | 18/12/2019
The HKMA says it will finalise Hong Kong’s timeline when there is more clarity on the implementation status in other major jurisdictions.
AML / KYC
HKMA Asks Banks, SVFs to Assess AML/CFT Risks of VASP Dealings
By Editors | 17/12/2019
Authorised institutions and SVF licensees should conduct appropriate risk assessments to differentiate the risks of the individual virtual asset service providers they deal with, the HKMA says.
Capital / Liquidity
HKMA Defends Against Rumours of Hong Kong Stability Risks
By Manesh Samtani | 12/12/2019
The HKMA has not seen any large-scale outflow of funds from Hong Kong and the banking system had sufficient capital and liquidity to withstand any impact.
Securities / Derivatives
SFC, HKMA to Launch New Survey to Assess Product Selling Risks
By Editors | 10/12/2019
The survey will help the SFC and HKMA identify risks associated with the selling activities of intermediaries and coordinate their responses to address areas of common concern.
Capital / Liquidity
Hong Kong Introduces New Loan Guarantee Scheme for SMEs
By Editors | 10/12/2019
LegCo has approved HK$33bn in funding to provide 90% guarantees on approved loans taken out by eligible enterprises and professionals seeking to set up their own practices.
AML / KYC
IMF Commends Hong Kong’s Financial System Resilience
By Garima Chitkara | 05/12/2019
The IMF also came out in support of the government’s policies to boost the economy, safeguard financial stability, and combat money laundering and terrorism financing.
ESG / Sustainability
Why the HKMA is Taking ESG Investing Seriously
By AsianInvestor | 26/11/2019
The head of risk for the de-facto central bank’s investment portfolio explains why it is implementing ESG principles into its investing practices.
Capital / Liquidity
Significant Variation Among Banks in HKFRS 9 Reporting – Study
By Manesh Samtani | 26/11/2019
Only some banks have been able to fully address the HKFRS 9 financial disclosure requirements, according to a new study from Mazars Hong Kong.
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