Regulatory Alerts2024-09-19
Added · Updated
Banking Sector’s Support for Implementation of Severe Weather Trading
The Hong Kong Monetary Authority reminds authorized institutions to finalize preparations for the launch of Severe Weather Trading on 23 September 2024, following confirmation of their technical and operational readiness. Institutions must ensure continuous banking and payment services, including cheque clearing, remote working protocols, and enhanced support for securities brokers and retail customers during severe weather days. The regulator emphasizes the maintenance of comprehensive contingency plans and effective customer communication to manage potential operational challenges and ensure account operability for broker settlement accounts.
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