Regulatory Alerts2025-03-14
Added · Updated
Guidance on Selling of Accumulators
The Hong Kong Monetary Authority issued this circular on 14 March 2025 to establish regulatory requirements for Authorized Institutions selling FX accumulators and RMB-linked deposits. The guidance supersedes previous documents from 2010, 2011, and 2014, updating the framework for assessing customer exposure and product classification. It mandates that institutions adhere to specific standards when marketing these complex investment products to ensure appropriate risk management and customer suitability assessments.
CIR
Current
Issue Date:
14 Mar 2025
20250317-1-EN.pdf (130.2 KB)
Topic:
Wealth Management & MPF - Securities/investment products
Group:
All Authorized Institutions
Directly related Document
Cross referenced Document
Version History
Superseded Document
Directly related Document
Annex
Current
14 Mar 2025
Annex 1 - Regulatory requirements on selling of accumulators
Annex
Current
14 Mar 2025
Annex 2 - Previous guidance superseded
CIR
Archive
07 Mar 2014
Foreign Exchange Accumulators (“FX accumulators”) and Non-leveraged Renminbi (“RMB”)-Linked Deposits
CIR
Archive
07 Mar 2014
Foreign Exchange Accumulators (“FX accumulators”) and Non-leveraged Renminbi (“RMB”)-Linked Deposits
Annex 1: Framework for AIs’ assessment of customers’ expected exposure to FX accumulators
CIR
Archive
07 Mar 2014
Foreign Exchange Accumulators (“FX accumulators”) and Non-leveraged Renminbi (“RMB”)-Linked Deposits
Annex 2: Example of a FX structured product that should be classified as an accumulator
CIR
Archive
31 Oct 2011
Rationale for Selling of Accumulators
CIR
Archive
22 Dec 2010
Selling of Accumulators
Annex
Current
14 Mar 2025
Annex 1 - Regulatory requirements on selling of accumulators
Annex
Current
14 Mar 2025
Annex 2 - Previous guidance superseded
Cross referenced Document
Version History
CIR
Archive
07 Mar 2014
Foreign Exchange Accumulators (“FX accumulators”) and Non-leveraged Renminbi (“RMB”)-Linked Deposits
CIR
Archive
07 Mar 2014
Foreign Exchange Accumulators (“FX accumulators”) and Non-leveraged Renminbi (“RMB”)-Linked Deposits
Annex 1: Framework for AIs’ assessment of customers’ expected exposure to FX accumulators
CIR
Archive
07 Mar 2014
Foreign Exchange Accumulators (“FX accumulators”) and Non-leveraged Renminbi (“RMB”)-Linked Deposits
Annex 2: Example of a FX structured product that should be classified as an accumulator
CIR
Archive
31 Oct 2011
Rationale for Selling of Accumulators
CIR
Archive
22 Dec 2010
Selling of Accumulators
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