Hong Kong has experienced a significant impact from the coronavirus (Covid-19) outbreak, and the affect it has had on our daily working lives. Many of these changes are temporary but some of them – e.g. more flexible working arrangements – could become the new normal. In a regulated industry this will pose some interesting new challenges for firms and regulators to work through. KPMG believes that we have to accept some of these changes and move forward rather than trying to go back to the ‘old way’. Another by-product of these challenging times is that many firms will now have challenges in meeting regulatory deadlines or requirements and we have seen some evidence of firms approaching regulators for flexibility.
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