Regulatory Alerts2022-07-22
Added · Updated
Operational Independence of the Monetary Authority as Resolution Authority
The Hong Kong Monetary Authority issued this Code of Practice chapter to define its operational independence as the designated resolution authority for financial institutions under the Financial Institutions (Resolution) Ordinance. The document establishes the Resolution Office as a structurally independent unit within the HKMA, equipped with dedicated staff and clear internal coordination mechanisms to manage conflicts of interest while exercising resolution powers. It further mandates rigorous accountability and transparency standards, including specific reporting requirements and the publication of guidance to ensure the effective implementation of international resolution regimes.
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