Hong Kong Regulatory Roadmap for the Year of the Ox
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There are various exciting regulatory developments that we expect to see in Hong Kong throughout 2021.
This bulletin looks at a number of key regulatory areas of focus in relation to: i) anti-money laundering and counter-terrorist financing; ii) personal data/outsourcing/cloud storage; iii) the asset management and funds industry; iv) trust and custody business; v) corporate governance; vi) OTC derivatives licensing; vii) the insurance industry; and viii) green and sustainable finance.
In the Chinese zodiac, the ox is honest, earnest and cautious. It is low key and never looks for praise or aspires to be the centre of attention but instead gains recognition through its hard work. Financial institutions ought to channel their inner ox this year, and ensure they stay up to speed with regulatory developments that affect their business lines.