Financial services risk and regulation - Regulatory updates newsletter Oct 2017

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Oct 2017

September and October saw regulatory movements by the HKMA regarding Supervisory Policy Manuals dealing with IRRBB implementation and revisions to CG-1 and IC-1, the SFC released findings on its latest reviews of asset managers and areas of non-compliance with the Fund Managers code-of-conduct and / or internal controls guidelines, and both the HKMA and SFC announced Fintech initiatives to promote the growth and development of Hong Kong’s Fintech industry and both updated the address verification requirements under AML and / or CFT regulatory requirements for financial institutions.  Firms operating in these areas should note relevant changes.

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