Regulatory Alerts2022-03-23
Added · Updated
Guide to Authorization Chapter 5 Revocation and Suspension of Authorization
The Monetary Authority issues this guide to outline the discretionary powers to revoke or suspend the authorization of authorized institutions under the Banking Ordinance. It details specific grounds for revocation, including failure to meet criteria, insolvency, provision of false information, breach of conditions, and threats to depositor interests or Hong Kong's financial stability. The document also explains the suspension procedure as a temporary measure that allows institutions to retain status during restructuring while immediately ceasing regulated business activities.
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