HSBC and Standard Chartered, along with Bank of China, have a special role in Hong Kong as issuers of the city’s currency© Bobby Yip/Reuters Hong Kong’s banking regulator is pressuring lenders including HSBC and Standard Chartered to take on crypto exchanges as clients, even as US regu...
Hong Kong Banks’ Cash Levels Sink to Three-Year Low as Regulator Stems HK Dollar’s Slide(Yicai Global) April 17 -- Cash levels in Hong Kong’s banking system have plunged to the lowest level in three years as the special administrative region’s monetary authority buys up Ho...
Infinium Limited is a JV between Tencent, Industrial and Commercial Bank of China (Asia) -- a unit of Chinese banking giant ICBC, Hong Kong Exchanges and Clearing -- the operator of the Hong Kong stock exchange, private equity firm Hillhouse Capital, and Adrian Cheng, executive vice chairman...
Hong Kong Regulators means the SEHK (including the relevant Clearing House), HKFE (including the relevant Clearing House), SFC, the Hong Kong Monetary Authority and/or any other regulator in Hong Kong having jurisdiction over the Company or the Transactions; Sample 1Sample 2Sample 3 Based on 9...
The overcharge practices affected about 5,000 Hong Kong-managed client accounts in about 28,700 transactions. UBS also failed to report its spread overcharge practices to the SFC until two years after the identification of the misconduct, the SFC said, adding that the bank has undertaken to repa...
Hong Kong’s banking regulator has fined the local branch of private bank Coutts HK$7m ($901,000) for breaking anti-money laundering regulations, following similar fines inSwitzerlandandSingaporeconnected to Malaysia’s 1MDB scandal. Between April 2012 and June 2015, the private banking unit faile...
It explores various levels and types of risk such as financial resources, individual investors, and legal or security issues. It also offers advice on risk management techniques provided by Wheatley and Jake Williams of the Standard Chartered Bank in Hong Kong.GROENFELDTTOM...
banks. As Hong Kong’s first large-scale multi-bank blockchain project, it was online in trial operation on September 27 2018 and went into official operation on October 31. The platform is managed and owned by the Hong Kong Trade Finance Platform Company Limited (HKTFPCL)and Hong Kong ...
On March 7, 2024, the HKMA unveiled Project Ensemble to support development of the Hong Kong tokenization market1. As summarized in the 2024 Press Release, Project Ensemble is a new wholesale central bank digital currency (wCBDC) project that seeks to explore in...
In addition, there are 84 local representative offices of overseas banks in Hong Kong. The Hong Kong Monetary Authority is the bank regulator. HKMA prescribes certain financial information to be reported periodically to HKMA as well as certain accounting and reporting requirements for the general-...