Regulatory Alerts2010-09-03
Added · Updated
HKMA Circular Regarding SFC Guidance on Potential Listing of RMB Denominated Products
The Hong Kong Monetary Authority issued this circular to draw the attention of all Authorized Institutions to a Securities and Futures Commission notice regarding the potential listing of Renminbi-denominated products. The document requires intermediaries to prepare for trading and settlement operations while implementing proper internal controls and system changes. It further clarifies that while RMB lending to corporate customers is permitted, lending to personal customers and Designated Business Customers remains prohibited to prevent circumvention of regulatory restrictions.
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