Regulatory Alerts2020-04-20
Added · Updated
Circular to issuers of SFC-authorized paper gold schemes
The Hong Kong Monetary Authority issued this circular to remind Authorized Institutions of their obligations regarding SFC-authorized paper gold schemes amid COVID-19 market volatility. Institutions are required to treat customers fairly, uphold financial consumer protection, provide timely information, and rectify significant operational incidents. Additionally, Authorized Institutions acting as paper gold scheme issuers must immediately report any untoward circumstances with material customer impacts to both the SFC and the HKMA.
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