Events listed in circular
Circular to Licensed Corporations and Associated Entities – Anti-Money ...
ID 23378
**The Securities and Futures Commission of Hong Kong, SFC, has published a circular to announce upcoming changes to the Guideline on Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT). The changes reflect the changes in the Anti-Money Laundering and Counter-Terrorist Financing Ordinance brought about by the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Ordinance 2022 which primarily introduces a new licensing regime for virtual ...
Circulaire CSSF-CPDI 23/35
ID 23366
Circular CSSF-CPDI 23/35 amends Circular CSSF-CPDI 16/02 regarding the scope of the deposit guarantee and the investor compensation. The objective of this present circular is to incorporate the provisions of Article 62 of Regulation (EU) 2019/2033, which amends Regulation (EU) No 575/2013, affecting the definition of financial institutions. Financial institutions that fall under this definition are **excluded from the scope of the deposit guarantee ...
Circulaire CSSF-CPDI 23/36
ID 23363
The CSSF published Circular CSSF-CPDI 23/36, which aims to amend Circular CSSF 13/555 pertaining to the implementation of a decision made by the Board of Directors of the AGDL. The objective of the amendment is to introduce a SCV file within the framework of the deposit guarantee and include a new field that records depositors‘ national identification number. Additionally, the present circular provides further ...
Circulaire CSSF 23/834
ID 23263
Circular CSSF 23/834 mandates the use of the IMAS Portal for specific supervisory processes within the SSM. The IMAS portal serves as a digital interface to enhance efficiency, communication, and transparency in these processes, aligning with the commitment of the ECB and national competent authorities. Importantly, utilizing the IMAS Portal does not alter the legal framework or the distribution of legal responsibilities between the ...
Circulaire CSSF 23/833
ID 23260
The purpose of the present circular is to repeal CSSF Circular 08/334 relative to encryption specifications for declarants, and CSSF Circular 08/344 concerning the provisions regarding the transmission of reporting files to CSSF. The CSSF hereby aims to inform professionals about the applicable communication methods from now on. Depending on the approach or reporting involved, professionals will be able to utilize the following means ...
Circulaire CSSF-CODERES 23/16 (uniquement en anglais)
ID 23251
On 15 May 2023, Circular CSSF-CODERES 23/16 was published by the CSSF, providing an announcement about the Single Resolution Fund and raising the 2023 ex-ante contributions as per Articles 69 and 70 of Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014. The SRB has determined the 2022 ex-ante contribution for all institutions as defined in Article ...
Applicable Jurisdictional Countercyclical Capital Buffer (CCyB) Ratio for Hong Kong ...
ID 23107
The Hong Kong Monetary Authority (HKMA) has issued a circular to announce that it will leave the countercyclical capital buffer (CCyB) for Hong Kong at 1.00%. The decision follows a careful analysis of (global) economic conditions primarily influenced by the continuing geographic and political tensions and globally high interest rates due to high inflation levels. The HKMA also points out that there were signs ...
Currency Conversion Arrangement Involving Onshore RMB (CNY) under Northbound Swap ...
ID 23068
The Hong Kong Monetary Authority, HKMA, has published a circular primarily addressed at foreign exchange (FX) settlement banks in view of the launch of Swap Connect which provides mutual access between the Hong Kong and Mainland Chinese interest rate swap markets. Therein, the HKMA outlines some issues FX settlement banks must consider when providing currency conversion services to investors that use offshore RMB or ...
Circular to Licensed Corporations which are Participants of The Stock Exchange of ...
ID 23041
The Securities and Futures Commission of Hong Kong (SFC) has issued a circular providing information on the arrangements of the license holders insurance scheme applicable for the scheme year from April 1, 2023 to March 31, 2024 (both dates inclusive). The scheme applies to corporations which are licensed under the Securities and Futures Ordinance and which fall into one of the following two categories: ...
Circulaire CSSF-CPDI 23/34
ID 23040
Circular CSSF-CPDI 23/34 has been issued to modify the method for calculating ex-ante contributions laid down in Circular CSSF-CPDI 20/21. The purpose of the circular is to adjust the contributions to be paid in cases where deposit growth results from mergers between member institutions or from transfers of liabilities or similar operations between member institutions, whereas contributions have been paid in the past of ...