Hong Kong Monetary Authority

Market Infrastructure

HKMA, SFC Consult on Calculation Periods for OTC Derivatives Clearing

By Editors | 16/12/2021

The existing list of calculation periods will be exhausted in about one year’s time. The HKMA and SFC propose to add eight similar calculation periods to the clearing rules.

HKMA Raises Concerns Over Outside Mandates of Bank Directors

By Manesh Samtani | 16/12/2021

Banks have to report all outside mandates held by each director and chief executive, and address any conflicts of interest and time commitment issues.

ESG / Sustainability

PBOC Reiterates Commitment to Hong Kong Financial Centre

By Sanday Chongo Kabange | 13/12/2021

Key areas of collaboration to enhance Hong Kong’s roles as an international financial centre include CBDC, regtech, green finance development.

Fintech / Regtech

HK Associations Published Revised Code of Banking Practice

By Editors | 13/12/2021

Banks are expected to achieve full compliance with the new provisions within six months. The Code is endorsed by the HKMA.

Press Release

Wolters Kluwer Named Best Solution in Regulatory Reporting

By Editors | 10/12/2021

Wolters Kluwer enables FIs to address increasingly complex regulatory data and reporting requirements, leveraging an upgraded regulatory engine.

ESG / Sustainability

HKMA Shares ‘Sound Practices’ in Bank Climate Strategies

By Manesh Samtani | 09/12/2021

Banks are “strongly encouraged” to enhance their green and sustainability programmes to encompass climate risk management and the sound practices.

Fintech / Regtech

HKMA Launches Enhanced Competency Framework on Fintech

By Editors | 06/12/2021

Banks are “strongly encouraged” to adopt the ECF-Fintech as part of their overall efforts to support the professional development of employees.

Enforcement

SFC Bans Former Private Banker Over False Academic Qualifications

By Editors | 01/12/2021

The SFC considers the former relationship manager to not be fit and proper as her conduct was “plainly dishonest”.

Market Infrastructure

Wealth Connect to be Refined, Expanded Over Time: HKMA

By Mark Johnston | 01/12/2021

Account opening by attestation is expected to be piloted for the WMC’s Northbound scheme, allowing Hong Kong investors to participate without having to travel.