Regulatory Alerts2019-06-21
Added · Updated
Currency Conversion Arrangement Involving Onshore RMB under Northbound Stock Connect
The Hong Kong Monetary Authority issued this document on June 21, 2019, to establish the regulatory framework for currency conversion arrangements involving onshore Renminbi under the Northbound Stock Connect scheme. The guidelines define the operational procedures and compliance requirements for authorized institutions participating in the cross-border RMB conversion process. This regulatory update ensures that financial institutions adhere to standardized protocols for managing onshore RMB transactions within the Stock Connect mechanism.
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