Hong Kong Monetary Authority

AML / KYC

HKMA Consults on Changes to AML/CFT Guideline for Banks

By Manesh Samtani | 19/01/2023

Banks must perform CDD on customers transferring virtual assets. Digital ID system iAM Smart can be used for identity verification.

Crypto / Digital Assets

PBOC Starts Including CBDC Data in Monthly Statistics Report

By Editors | 12/01/2023

e-CNY in circulation amounted to around $2bn at the end of December, representing 0.13 percent of total currency in circulation.

Crypto / Digital Assets

HK Lawmaker Proposes to Use e-HKD as Stablecoin for DeFi

By Sanday Chongo Kabange | 11/01/2023

LegCo member Wu Jiezhuang says using the CBDC as a government-backed stablecoin will help address virtual asset risks and enhance trust in Web3.

Fintech / Regtech

Hong Kong’s Regulatory Landscape for Data and Technology Risk

By Albert Yuen | 09/01/2023

Albert Yuen and Jasmine Yung at Linklaters discuss Hong Kong’s regulatory approach to technology risk and data security.

HKMA Raises Bar on Banks’ Complaints Handling Protocols

By Editors | 08/01/2023

Banks are expected to proactively make use of alternate dispute resolution channels when complaints cannot be resolved through their internal mechanisms.

AML / KYC

HKMA to Scale Up AML Efforts in 2023: Carmen Chu

By Bradley Maclean | 04/01/2023

Executive Director Carmen Chu discusses the actions the HKMA is taking to disrupt AML threats to Hong Kong, and technology initiatives that are making a difference.

ESG / Sustainability

HKMA Revises SPM to Embed Climate Risk in Supervisory Approach

By Editors | 30/12/2022

Revised SPM illustrates the HKMA’s approach to the supervision of emerging risks such as climate risk under its risk-based supervisory approach.

HK Regulators Identify Issues in Sales of Tax-deductible Products

By Sanday Chongo Kabange | 28/12/2022

Mystery shopping programme identified deficiencies in QDAP and TVC sales practices. Insurers and intermediaries with adverse findings will be required to take remedial actions.

Press Release

Regulation Asia: Top 20 News Stories for 2022

By Editors | 28/12/2022

This list presents the most-read new stories published by Regulation Asia in 2022, based on aggregated user traffic analytics.