[Hong Kong] SFC
identifies vaccination as key element of operational risk management
SFC
News, 1 Jun 2021
The
SFC issued a circular urging licensed corporations to review their business
continuity plan and consider Covid-19 vaccination as a critical part of
operational risk management. In this connection, they should identify functions
that are critical to their business operations and client interests and to
encourage staff performing such critical functions to get vaccinated.
Full
text: click here
[Hong
Kong] Circular to licensed corporations Business continuity planning in view of
COVID-19 Vaccination Programme
SFC
Circulars, 1 Jun 2021
In view of the availability of vaccines
after the launch of a territory-wide COVID-19 Vaccination Programme by the Hong
Kong Special Administrative Region Government earlier this year, licensed
corporations are strongly encouraged to consider vaccination as a critical part
of operational risk management to ensure that their business operations and
client interests are not unduly affected by COVID-19. In this regard, the SFC
urges licensed corporations to review their business continuity plan and identify
functions which are critical to their business operations and client interests
and encourage staff performing such critical functions, for example
client-facing and critical support staff, to get vaccinated. Licensed
corporations are also reminded to maintain proper documentation of any changes
to their BCPs.
Full text: click here
[Hong Kong] The HKMA
invites registration for its flagship Regtech event – “Unlocking the Power of
Regtech”
HKMA News, 1 Jun 2021
The HKMA invites everyone who is interested
in developing Regtech to transform risk management and regulatory compliance to
register for its flagship Regtech event - “Unlocking the Power of Regtech”
scheduled for 30 June 2021. The virtual event brings together senior figures
from the global Regtech ecosystem including financial institutions, regulators,
Regtech providers and other industry experts to share their experience and
insights into the enormous potential of Regtech. It comprises panel
discussions, experience sharing sessions and demonstrations, designed to
encourage dialogues and networking.
Full text: click here;
Event Agenda: click here
[Hong Kong] COVID-19
Vaccination Programme
HKMA Circulars, 1 Jun
2021
The HKMA urge all authorized institutions to
introduce additional effective measures to encourage all bank staff to get
vaccinated. The HKMA also requires that all AIs should strongly encourage staff
performing client-facing roles or critical support functions to get vaccinated.
To this end, AIs should identify and draw up a list of designated staff
expected to receive inoculation. The list should include, but should not be
limited to, those staff involved in branch operation, wealth management and
commercial banking, who have frequent face-to-face interactions with customers,
as well as those responsible for critical IT, data centre, treasury and
settlement operations. AIs are required to submit to the HKMA, within two weeks
from the date of this circular, a breakdown by department or function of
designated staff expected to receive inoculation. Staff included in the list
should undergo the first COVID-19 test by 30 June 2021 if they have not yet
taken the first dose of vaccine by then.
Full text: click here
[Hong Kong] First
exchange traded funds listed under cross-border scheme
The Standard, 1 Jun 2021
The first exchange traded funds were listed
simultaneously in Hong Kong and Shanghai under the new Hong Kong-mainland ETF
Cross-listing Scheme. The new ETF, CSOP Huatai-Pinebridge CSI Photovoltaic
Industry ETF, invests 90 percent or more of its total net assets in an ETF
currently listed in Shanghai, through the Renminbi Qualified Foreign
Institutional Investor (RQFII) status.
Full text: click here
[Hong Kong] Hong Kong
bourse scraps fees for bond and money market ETFs
Asia Asset Management
News, 2 Jun 2021
Hong Kong’s stock exchange has eliminated
trading fees for bond and money market exchange-traded funds (ETFs) in a move
to increase liquidity and bring greater product diversity to the market. Hong
Kong Exchanges and Clearing charges HK$0.50 per ETF transaction and a minimum
stock settlement fee of HK$2. The fees will be scrapped for 29 listed ETFs,
HKEX says in a statement on May 31, when the move became effective.
Full text: click here