Regulatory Alerts2018-10-19
Added · Updated
Monetary Authority Circular on Compliance with the Code of Banking Practice
The Hong Kong Monetary Authority mandates that all authorized institutions fully comply with the Code of Banking Practice, including the 17 provisions previously suspended due to competition law concerns. This directive reactivates those specific provisions regarding fees and charges as binding supervisory requirements effective 19 October 2018. The regulator emphasizes that adherence to these standards is essential for consumer protection and proper conduct under the Banking Ordinance.
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