Regulatory Alerts2012-11-06
Added · Updated
Enhanced Exception Reporting for the Code of Banking Practice
The Hong Kong Monetary Authority expanded its exception reporting requirements for the Code of Banking Practice to cover all chapters, effective immediately. Authorized institutions must now notify the regulator of any breaches of the Code as soon as practicable using the specified standard reporting format. This change aims to enhance the monitoring of compliance and ensure proper rectification measures are implemented by the institutions.
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