In this round-up: Hong Kong’s strict reg environment limits crypto and SPAC activities for FOs; Tighter AML rules affect PB client onboarding; FI executives share views on China’s “common prosperity” drive Hong Kong’s strict reg environment limits crypto and SPAC activities for FOs Hong Kong’s regulatory environment may affect the financial activities that family offices based in the city can […]

The post November Regulatory Round-up: Strict HK regs limit crypto and SPAC activities for FOs; Tighter AML rules affect PB client onboarding; FI executives’ take on China’s “common prosperity” drive appeared first on Asian Private Banker.

Stricter anti-money laundering (AML) measures — such as the requirement to identify the client’s source of wealth/source of funds (SOW/SOF) — have made onboarding clients a greater challenge for private banks in the region’s two wealth hubs. Many banks struggle with putting together fragmented data for compliance purposes. Private banker sources in Singapore and Hong Kong who cover the Greater […]

The post Tightening AML rules take a toll on client onboarding at private banks appeared first on Asian Private Banker.