UBS fined HK$9m for AML violations in Hong Kong
The Monetary Authority has taken disciplinary action against UBS AG, Hong Kong Branch ordering it to pay a penalty of HK$9 million.
The Monetary Authority has taken disciplinary action against UBS AG, Hong Kong Branch ordering it to pay a penalty of HK$9 million.
The Hong Kong Monetary Authority (HKMA) has launched its Anti-Money Laundering (AML) Regtech Lab, supported by Deloitte.
Joint research on multiple central bank digital currency (CBDC) shows potential for speeding up cross-border payments and reducing costs.
HKMA has designated six companies, including HSBC and Standard Chartered, as Domestic Systemically Important Authorized Institutions.
The regulator has designated nine authorized institutions as Primary Liquidity Providers for offshore renminbi market in Hong Kong.
If the PBoC would like to explore the use of DC/EP outside the Mainland, the HK Government and the HKMA will collaborate.