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Clearing & Post-Trade
HKMA-SFC Consult on Mandatory Clearing and Reporting for OTC Derivatives
By Editors | 01/10/2015
Consultation paper introduces first phase of mandatory clearing and second phase of mandatory reporting under new OTC regime.
Cybersecurity
HKMA Issues Guidance on Cybersecurity Risk Mgt
By Editors | 17/09/2015
The Hong Kong Monetary Authority (HKMA) has issued a circular to financial institutions highlighting the importance of proper cybersecurity risk management and provide general guidance on the matter.
Operational Risk
HKMA Issues New Guidance on E-Banking Risk Management
By Editors | 09/09/2015
The Hong Kong Monetary Authority has issued a revised version of the Supervisory Policy Manual for risk management of electronic banking services.
Fraud, Scams & Cybercrime
HKMA Cautions Banks on Malpractice by Intermediaries and Sales Agents
By Editors | 10/08/2015
The Hong Kong Monetary Authority has issued a circular to banks requiring them to enhance customer protection and mitigate reputational risk arising from possible malpractices of intermediaries or sales agents.
Anti-Money Laundering
HKMA Fines State Bank of India for Breach of AML/CTF Rules
By Editors | 03/08/2015
SBI’s Hong Kong branch fined HK$7.5 million for breaching anti money-laundering and counter terrorism financing rules.
Anti-Money Laundering
Evolving AML and KYC Standards – Now an Integral Part of Financial Institutions
By Editors | 31/07/2015
Increasingly complex and co-dependent regulations and tax policies are changing the process of onboarding and monitoring clients and counterparties.
Structural Regulation
Hong Kong OTC Derivatives Reporting Regime to Take Effect July 10
By Editors | 29/06/2015
The HKMA advises all licensed banks to follow its guidance to ensure a smooth transition in the upcoming migration to the new OTC derivatives reporting regime.
Payments & Settlements
Operating Hours of Yuan Liquidity Facility Extended by HKMA
By Editors | 24/06/2015
The Hong Kong Monetary Authority announced that it will extend the operating hours of the intraday repo under the Renminbi Liquidity Facility from July 20.
Emerging Prudential Risks
When Family Ownership Triumphs Over Compliance
By Peter Guy | 03/06/2015
Bank of East Asia faces a challenge from hedge fund revealing the governance shortfalls of family ownership.
Anti-Bribery & Corruption
Hong Kong Reviews Impact of FIFA Probe on Banks
By Editors | 28/05/2015
Hong Kong is “monitoring the implications” for banks following bribery and corruption charges against officials of the football governing body FIFA.
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