Regulatory Alerts2019-10-22
Added · Updated
Explanatory Note on Licensing Requirements for Banking Sector under Regulatory Regime for Insurance Intermediaries
The Hong Kong Monetary Authority transmits an explanatory note from the Insurance Authority regarding licensing requirements for banking sector activities under the Insurance Ordinance. The document clarifies which insurance-related banking activities constitute regulated activities requiring authorization by the Insurance Authority. Authorized institutions and their staff are instructed to implement adequate policies, procedures, and training to ensure compliance and refrain from unlicensed regulated activities.