Regulatory Alerts2022-05-27
Added · Updated
Regulation and Supervision of Trust Business
The Hong Kong Monetary Authority issues this statutory guideline to regulate and supervise the trust business conducted by authorized institutions. It mandates compliance with a Code of Practice that establishes conduct standards, requires the appointment of fit and proper managers, and imposes strict notification obligations for material non-compliance. The regulator employs a risk-based supervisory approach involving on-site examinations and off-site reviews to ensure adequate protection for clients and the integrity of the trust industry.
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