Regulatory Alerts2023-12-07
Added · Updated
Code of Banking Practice
The Hong Kong Monetary Authority mandates that all Authorized Institutions fully comply with the Code of Banking Practice as a requirement under the Banking Ordinance. This directive, clarified in October 2018, establishes that adherence to the Code stems directly from the Monetary Authority's enforcement of proper standards of conduct and sound business practices. The document serves as the governing framework for banking conduct and enforcement applicable to all regulated entities.
IGL
Current
(As clarified and reiterated in the HKMA’s circular dated 19 October 2018, as part of the Monetary Authority’s requirements under the Banking Ordinance concerning proper standards of conduct and sound and prudent business practices, all AIs are required to fully comply with all the provisions of the Code. Hence, compliance with the Code actually stems from the Monetary Authority's requirements.)
Issue Date:
07 Dec 2023
20231207-1-EN.pdf (900.2 KB)
Topic:
Banking Conduct & Enforcement - Code of Banking Practice
Keyword:
Group:
All Authorized Institutions
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