Hong Kong Monetary Authority

HKMA Publishes Interim Report on Front Office Incentives Review

By Manesh Samtani | 24/11/2021

Frontline staff with more positive perceptions of customer and conduct outcomes had incentives that emphasised both financial and non-financial factors.

Securities / Derivatives

Hong Kong Issues First Euro Denominated Green Bonds

By Sanday Chongo Kabange | 22/11/2021

A 20-year tranche issued under the Green Bond Programme is the longest tenor euro-denominated bond issued by an Asian government to date.

HKMA Restricts Data Sharing for Direct Marketing Purposes

By Manesh Samtani | 22/11/2021

Banks may not share customers’ personal data with third parties including their own group companies for direct marketing purposes.

AML / KYC

The Rising Standards of AML/CFT Compliance in Hong Kong

By Susanne Harris | 22/11/2021

Mayer Brown’s Susanne Harris, Wei Na Sim, Alan Linning and Charlene Wong discuss key developments in the AML/CFT space in Hong Kong in 2021.

HKMA Concludes First Phase of Front Office Incentives Review

By Manesh Samtani | 22/11/2021

Preliminary observations from the review show that banks are increasingly considering both financial and non-financial factors when designing incentive systems.

Enforcement

HKMA Penalises Four Banks for AML Violations

By Editors | 21/11/2021

ICBC (Asia), UBS, CCB (Asia) and CTBC Bank were fined a combined HK$44.2mn for deficiencies in customer monitoring, periodic reviews and due diligence.

Fintech / Regtech

HK, Mainland Expand Connectivity of Trade Finance Platforms

By Editors | 09/11/2021

Phase 1 connectivity supported exports to Hong Kong and imports from the Mainland, while phase 2 will cover exports to the Mainland and imports from Hong Kong.

Capital / Liquidity

HKMA Finalises Guidance on Implementing OCIR Arrangements

By Sanday Chongo Kabange | 08/11/2021

In a new chapter of its code of practice, the HKMA sets out its expectations on the arrangements banks must have in place to maintain operational continuity in resolution.

Market Infrastructure

Hong Kong to Issue First HONIA Floating Rate Notes

By Manesh Samtani | 08/11/2021

The issuance is aimed at encouraging the private sector to issue similar products and develop of other HONIA-linked instruments.