Regulatory Alerts2009-01-09
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HKMA Report on Lehman Structured Products Annex 2: Implementation Plan Requirements
The Hong Kong Monetary Authority requires registered institutions to submit implementation plans by March 2009 detailing how they will adopt specific regulatory recommendations. These measures mandate the physical and operational segregation of retail securities and insurance activities from traditional deposit-taking banking functions. Additionally, institutions must enforce strict staff role separation, display clear risk warnings, and prohibit the use of deposit account data to target customers for investment products.
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