Regulatory Alerts2002-05-14
Added · Updated
Banking (Amendment) Ordinance 2001 Commencement and Compliance Requirements
The Hong Kong Monetary Authority notifies authorized institutions that the Banking (Amendment) Ordinance 2001 commences on 24 May 2002 and outlines mandatory compliance actions. Institutions must submit lists of managers and grandfathered local branches by 7 June 2002, provide new local office details by 24 August 2002, and adhere to new data privacy and fee payment obligations. Additionally, supervisory guidelines regarding manager appointment controls and internet deposit advertising are issued concurrently with the Ordinance's commencement.
Topics
governance
privacy
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