Regulatory Alerts2018-08-22
Added · Updated
Guidance Note on Cooperation with the HKMA in Investigations and Enforcement Proceedings
The Hong Kong Monetary Authority issued this Guidance Note to define cooperation standards and incentivize voluntary assistance during regulatory investigations and enforcement proceedings. The document outlines specific cooperative behaviors, such as early self-reporting and evidence preservation, while clarifying that mere statutory compliance does not qualify. It establishes a tiered sanction reduction framework, allowing penalty decreases of up to 30% for early cooperation, with reductions scaling down to 10% as proceedings advance.
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