Regulatory Alerts2009-07-14
Added · Updated
Abuse and Fraud Prevention in Private Banking and Wealth Management
The Hong Kong Monetary Authority issued this circular on July 14, 2009, to establish guidelines for authorized institutions regarding abuse and fraud prevention in private banking and wealth management. The document mandates robust management control and oversight mechanisms to ensure the fitness and propriety of staff and to mitigate operational risks. It serves as a regulatory update superseding previous directives on register maintenance and executive officer responsibilities.
CIR
Current
Issue Date:
14 Jul 2009
20090714-3-EN.pdf (312.6 KB)
Topic:
Wealth Management & MPF - Others
Group:
All Authorized Institutions
Directly related Document
Cross referenced Document
Version History
Superseded Document
Directly related Document
Annex
Current
14 Jul 2009
Annex - Management Control and Oversight
Annex
Current
14 Jul 2009
Annex - Management Control and Oversight
Cross referenced Document
Version History
Superseded Document
You may also be interested in
CIR
Archive
24 Mar 2003
Executive officers of registered institutions
CIR
Archive
28 Sep 2006
Controls to ensure the fitness and propriety of staff of authorized institutions
CIR
Archive
12 Sep 2002
Register of relevant individuals to be maintained by the HKMA under the Banking (Amendment) Ordinance 2002