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In Focus
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HKMA Commences e-HKD Pilot ProgrammeThe Hong Kong Monetary Authority (HKMA) commenced its e-HKD Pilot Programme for a retail central bank digital currency (CBDC) on 18 May.
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Key Aspects of the CFPB's Finalized Small Business Data Collection RuleThe US Consumer Financial Protection Bureau (CFPB) published its final rule implementing Section 1071 of the Dodd-Frank Act on March 30, 2023. The rule requires lenders to collect and report data about their small business lending activities, with the purpose of facilitating enforcement of fair lending laws with respect to women-owned, minority-owned, and small businesses. In this Legal Update, we discuss the background of the final rule and spotlight some of the new rule’s key requirements, including which institutions are covered, the data points institutions will be required to collect and report, and significant changes made to the final rule from the CFPB’s 2021 proposed version of the rule.
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Residential Mortgage Loans: Capital Relief Through Synthetic SecuritizationBanking organizations looking to reduce the amount of risk-based regulatory capital required to support residential mortgage loan portfolios can use synthetic securitization to convert the capital treatment of their exposures from wholesale or retail exposures to securitization exposures. In this Legal Update, we discuss how regulatory capital requirements impact banking organizations that hold portfolios of residential mortgage loans and how synthetic securitization can help mitigate the capital charge associated with these portfolios.
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May 292023The Securities and Futures Commission of Hong Kong released the "Consultation Conclusions on the Proposed Regulatory Requirements for Virtual Asset Trading Platform Operators Licensed by the Securities and Futures Commission" on 23 May 2023.
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May 262023Europe Daily News, the latest policy and legal developments in the European Union
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May 252023The Securities and Futures Commission in Hong Kong has fined China On Securities Limited HK$6 million over its failures as the placing agent for the then majority shareholder of Hon Corporation Limited at the end of 2019.