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The Hong Kong Monetary Authority (HKMA) recently launched a consultation on proposals to enhance the regulation and supervision of trust business in the Hong Kong banking sector. Responses are required to be submitted by 9 October 2020. Read more
The Hong Kong Monetary Authority (HKMA) has issued a circular to announce the key milestones that authorised institutions (AIs) should endeavour to achieve in the transition from LIBOR to alternative reference rates (ARRs). Read more
On 15 July 2020, the Monetary Authority of Singapore (MAS) published a guidance paper which sets out MAS’ supervisory expectations of sound practices where anti-money laundering/countering financing of terrorism (AML/CFT) control functions are outsourced. Read more
The Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) have announced that they will commence a concurrent thematic review in the second half of 2020 to assess intermediaries’ practices in respect of spread charges and related disclosure to clients. Read more
On 28 April 2020, the Hong Kong Competition Commission (HKCC) and the Securities and Futures Commission (SFC) announced that they had signed a memorandum of understanding (MoU) to enhance collaboration and exchange of information, particularly in respect of competition issues in the securities and futures industry. Read more
Welcome to the Spring 2020 edition of our corporate crime update - our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. Read more
On 8 May 2020, the Hong Kong Monetary Authority (HKMA) commenced a three-month industry consultation on a proposed framework for a mandatory reference checking scheme (MRC Scheme) to address the phenomenon of “rolling bad apples” moving between financial institutions without disclosing previous misconduct to their new employer. Read more
On 5 May 2020, five financial regulators and two government bureaux published a joint statement to announce the establishment of the Green and Sustainable Finance Cross-Agency Steering Group to drive green and sustainable finance policy in Hong Kong. Read more
