FSR and Corporate Crime Notes

SFC, CSRC and MOF sign tripartite MOU on access to audit working papers kept in Mainland China

Last week, the Hong Kong Securities and Futures Commission (SFC) signed a tripartite memorandum of understanding (MOU) with the China Securities …

Guideline on Cybersecurity for Hong Kong authorised insurers will come into effect on 1 January 2020

Digital Banking Licences have arrived for non-bank players in Singapore

On 28 June 2019, the Monetary Authority of Singapore (MAS) announced that it will issue up to five new digital bank licences, which will effectively open …

MAS EXTENDS AML/CFT REQUIREMENTS TO PAYMENT SERVICE PROVIDERS

FATF expects to finalise mutual evaluation report on Hong Kong's AML/CFT regime by September 2019

The mutual evaluation of Hong Kong was a subject of discussion at the Financial Action Task Force (FATF)’s recent plenary meeting in Orlando, Florida …

Corporate Crime update – Spring 2019

SFC encourages the industry to keep in mind the ‘spirit’ of the new Internal Investigation Disclosure Requirement introduced to halt the ‘roll’ of ‘bad apples’

On 17 June 2019, Ms Julia Leung (Deputy Chief Executive Officer, Intermediaries) and Mr Wilson Lo (Senior Director, Licensing) discussed the recent …

SFC Compliance Forum 2019: the SFC outlines its key supervisory priorities for the year ahead

The Securities and Futures Commission (SFC) held its third annual Compliance Forum (Forum) on 17 June 2019 – a series of six panel discussions with …

Product Intervention Powers and Design and Distribution Obligations in Financial Services: A Cross-Border Perspective

Authors: Hannah Cassidy, Clive Cunningham, Natalie Curtis, Javier de Carlos, Katherine Dillon, Matthias Gippert, Leopoldo …

HKMA reminds registered institutions of their Internal Investigation Disclosure Obligation

Client facilitation – Key standards of conduct and internal controls identified and reiterated by Hong Kong SFC

Authors: William Hallatt, Hannah Cassidy and Jennifer Fong On 14 May 2019, the Securities and Futures Commission (SFC) issued further guidance …

HKMA takes first step towards regulating the use of big data analytics and artificial intelligence in FinTech

Authors: Hannah Cassidy, Jeremy Birch, Sheena Loi and Peggy Chow The Hong Kong Monetary Authority (HKMA) has issued a circular to encourage authorised …