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China, EU to Finalise Climate Taxonomy By Year-End
By Sanday Chongo Kabange | 30/06/2021
A PBOC official reportedly said experts working on the common taxonomy are expected to complete the final version by the end of this year.
ESG / Sustainability
HK to Accelerate Plans for Mandatory Climate Disclosures – Report
By Sanday Chongo Kabange | 28/06/2021
The HKMA’s Darryl Chan reportedly said mandatory climate disclosure requirements could arrive in Hong Kong as early as next year.
Capital / Liquidity
Hong Kong: ‘Stay Rules’ to Come into Operation on 27 August
By Manesh Samtani | 27/06/2021
Banks have to adopt provisions in financial contracts binding counterparties to temporary stays on termination rights that may be imposed by the HKMA during a bank resolution.
HKMA, SFC Finalise Latest Changes to FSP List
By Editors | 25/06/2021
A unit of Toronto-Dominion Bank will be included on the FSP list. An entity that has merged with Deutsche Bank will be removed.
Market Infrastructure
HKMA Notifies Banks of Enhanced Competency Framework
By Editors | 22/06/2021
Banks are asked to review and assess the impact of the SFC’s revised framework and take action to ensure compliance.
Crypto / Digital Assets
InvestHK Launches 2021 Fintech Fast Track Programme
By Sanday Chongo Kabange | 21/06/2021
Selected companies will be showcased prominently at Hong Kong Fintech Week 2021 which takes place from 1 to 5 November.
Fintech / Regtech
HKMA to Conduct Industry Stock-take on Fintech Adoption
By Editors | 21/06/2021
All licensed banks with significant operations in Hong Kong must prepare and submit a questionnaire on fintech adoption by 31 December.
Fintech / Regtech
HKMA Issues Practice Guide on Cloud-based Regtech Solutions
By Manesh Samtani | 20/06/2021
Guidance is provided on the use of APIs to address barriers to adoption created by legacy systems that are inflexible to change.
Fintech / Regtech
HKMA Outlines Three Year Roadmap for Suptech Adoption
By Manesh Samtani | 20/06/2021
The HKMA will explore the potential conversion of regulations into machine-executable codes and the introduction of a system that automatically creates regulatory reports.
Market Infrastructure
Hong Kong Needs New Cybersecurity Legislation: FSDC
By Manesh Samtani | 16/06/2021
The FSDC recommends the development of legislation to provide legal certainty and protection, clarity on cross-border data transfers, and a framework for accountability.
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