Regulatory Alerts2024-01-24
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Frequently Asked Questions on the Cross-boundary Wealth Management Connect in the Guangdong-Hong Kong-Macao Greater Bay Area
The Hong Kong Monetary Authority issued this document to clarify operational and regulatory requirements for the Cross-boundary Wealth Management Connect pilot scheme. It details eligibility criteria for participating banks, including foreign branches, and specifies rules for product eligibility such as the inclusion of standardized non-SFO-regulated structured deposits. The guidance further outlines conduct obligations for Hong Kong banks regarding customer account opening, risk profiling, and permissible promotional activities for Mainland investors.
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