Bank
Hong Kong is one of the major international banking centre in the world with over 76 of the largest 100 banks in the world having a presence. As of September 2022, there were 156 licensed banks operating in Hong Kong with total workforce of about 101,100 people. The financial services sector (including banking sector) is constantly evolving with implementation of complex rules and regulations. In recent years, we have seen increasing burden in compliance and governance, cyber-attacks, data privacy regulation, financial crime, anti-money laundering and KYC processes, all along with huge penalties for the mis-selling or non-compliance. These present significant risk areas for financial services providers, which we can help you navigate the process. In addition, regulators and investors have paid much attention on sustainability and ESG issues recently.
GCC Capital provides an intergraded approach in dealing with regulatory & compliance, and sustainability communications under one roof to ensure all communications to stakeholders are in one voice.
- Advise on the regulatory requirements of providing securities trading services and other wealth management services and the implementation of compliance monitoring framework
- Advise on corporate finance matters, including share offerings, rights issues, public offerings and private placements of securities in the equity capital markets (“ECM”), as well as other debts issuance in the debt capital markets (“DCM”)
- Ongoing support in respect of compliance with applicable regulatory requirements under the Banking Ordinance (“BO”), the Securities and Futures Ordinance (“SFO”) and rules, codes, guidelines and circulars issued by the Hong Kong Monetary Authority (“HKMA”) and the Securities and Futures Commission (“SFC”) from time to time, and promote the compliance awareness
- Assist in setting up the compliance framework in suitability obligations, including policies and procedures in respect of the onboarding of investment products, the sale of investment products, product due diligence & disclosure, risk assessment
- Advise on climate-risk and other ESG disclosure requirements
- Advisory on Anti-money laundering and counter terrorist financing matters, including account opening procedures, customer due diligence, and other policies and procedures in respect of Know-your-client for the purpose of compliance with AML/CTF requirements under Hong Kong law and regulatory guidance provided by HKMA and other financial crimes