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HKMA Launches New Initiative to Address Banking Talent Gap
By Editors | 29/04/2022
The initiative is aimed at growing the banking sector talent pool in three areas, namely fintech, green and sustainable finance, and GBA business.
Fintech / Regtech
HKMA Consults on CBDC Policy and Design Choices
By Sanday Chongo Kabange | 28/04/2022
The paper says e-HKD could bring could present challenges to Hong Kong’s currency and financial stability, as well as the city’s role as an international financial centre.
Enforcement
Hong Kong: ICAC Charges Three Over Mortgage Fraud
By Editors | 27/04/2022
A property buyer and two estate agents understated the purchase price so the mortgage would be subject to a lower LTV cap.
AML / KYC
FIs Must Continue to Innovate Approach to AML: HKMA
By Manesh Samtani | 27/04/2022
Executive director Carmen Chu says work is underway to update HKMA’s guidance on name screening, transaction monitoring and suspicious transaction reporting.
Fintech / Regtech
HKMA Launches Knowledge Hub to Promote RegTech Adoption
By Editors | 26/04/2022
The Hub’s launch is accompanied by videos featuring regtech solutions from HSBC, Citibank, iFinHealth, Ping An OneConnect Bank and ASTRI.
Capital / Liquidity
HK to Implement Capital Standard for Banks’ Fund Exposures
By Editors | 26/04/2022
The capital standard for banks’ equity investments in funds is expected to come into operation in Hong Kong on 1 July 2022.
Fintech / Regtech
HKMA to Develop Additional Safeguards for Bank Customers
By Manesh Samtani | 20/04/2022
A fresh review of the Banking Code of Practice has been launched, covering information disclosure, customers’ finance management, and dispute handling.
AML / KYC
Hong Kong is Moving to a Robust Regulatory Framework for Crypto
By Etelka Bogardi | 19/04/2022
Etelka Bogardi and Amy Chung say Hong Kong’s efforts to regulate the crypto sector and stablecoin market are on the whole in line with international trends while leaving room for further development.
AML / KYC
HKMA Asks Banks to Help Reactivate Dormant Mainland Accounts
By Editors | 18/04/2022
Hong Kong customers are facing difficulties reactivating their Mainland accounts due to travel restrictions preventing them from visiting the banks’ branches in person.
Fintech / Regtech
PwC Publishes 2022 Rankings of Global Retail, Wholesale CBDCs
By Sanday Chongo Kabange | 14/04/2022
The highest ranking retail CBDC projects were from Nigeria, the Bahamas, and China. The highest ranking wholesale CBDC projects were from Thailand, Hong Kong and Singapore.
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