Regulatory Alerts2022-03-23
Added · Updated
Guide to Authorization: Chapter 2 - The Authorization Regime
The Monetary Authority of Hong Kong mandates that institutions carrying on banking or deposit-taking business must be authorized under the Banking Ordinance. This regime establishes a three-tier system comprising banks, restricted licence banks, and deposit-taking companies, each with distinct operational scopes and deposit acceptance limits. Additionally, the document outlines restrictions on unauthorized entities, including prohibitions on using banking names and requirements for advertising compliance, while defining the limited representational role of local representative offices.
More like this from HKMA
HKMA published 11 documents in the last 30 days. We email you each new one the day it's published.
Topics
Share