Regulatory Alerts2020-02-07
Added · Updated
Requirements under section 60 of the Banking Ordinance and disclosure requirements under the Banking (Disclosure) Rules
The Hong Kong Monetary Authority issued this circular to Authorized Institutions regarding statutory deadlines for lodging audited annual accounts and making disclosures under the Banking Ordinance and Banking (Disclosure) Rules. Due to operational difficulties caused by the novel coronavirus outbreak, the Authority allows institutions to apply in writing for extensions to the standard four-month or six-month timelines. Approval for such extensions will be granted based on the specific impact of the pandemic on the institution's ability to meet these regulatory obligations.
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