... remains concerned by the DPRK’s failure to address the significant deficiencies in its AML/CFT regime and the serious threats they pose to the integrity of the international financial system. Further, the FATF has serious concerns with the threat posed by the DPRK’s illicit activities related to the...

... June, 4 September, 2 December 2020, 24 February and 27 May 2021 regarding Phase 2 of the temporary facilitative measures ("TFM") to obviate the need to conduct face-to-face ("F2F") meetings in order to minimize the risk of infection during the sale process of insurance policies, the Insurance Authority...

... Premium levy rate to be adjusted on 1 April 2019 31 March 2019 In accordance with the schedule set out in the Insurance (Levy) Order under the Insurance Ordinance (Cap. 41), starting from tomorrow (1 April 2019), the premium levy rate will be...

... Change : Threats and Opportunities Open API Framework for the Insurance Sector Guidance Stakeholders Involvements API Technology Use Cases Data 7 Ecosystem and Partnership Enhancing Supervision and Compliance Data Cloud Security Work Efficiency Governance Core System 8 Regtech Adoption Regulatory...

... extension of the preferential treatment accorded to Hong Kong under the “China Risk Oriented Solvency System” for another year to 30 June 2021, allowing Mainland insurers who cede businesses to qualified local professional reinsurers to enjoy lower capital requirements. The CBIRC said...

... provision of expert assistance. “There are currently 164 authorized insurers and over 110,000 registered insurance intermediaries in Hong Kong, which are important pillars of the financial system. Insurance is also a commitment which embodies important social value by enabling members of the...

... into account the unique facts and circumstances of each case in order to determine an appropriate pecuniary penalty. From the publication of disciplinary actions, the industry would be able to discern the kind of penalties the IA would impose for different non-compliance or misconduct. The...

... regulations”), and the acceptance of e-learning courses for this purpose. In order to facilitate implementation, certain exemptions and transitional arrangements are provided for existing practitioners. The two guidelines will take effect immediately upon commencement of the new statutory regulatory...

... a circular, issued by the IA today. The IA will continue to explore with industry stakeholders the use of sustainable and virtual distribution channels for other products, while ensuring that prudential supervision is maintained and the interests of policy holders are properly protected, in order to...

... Implementation of an effective AML_CFT system                                           ImplementationImplementation ofof anan effectiveeffective AML/CFTAML/CFT systemsystem DicksonDickson ChuiChui ManagerManager (Enforcement)(Enforcement) –– AntiAnti‐‐MoneyMoney LaunderingLaundering 1717...