Regulatory Alerts2024-11-15
Added · Updated
Risk-based Supervision of Approved Money Brokers
The Hong Kong Monetary Authority issues this statutory guideline to establish a risk-based supervisory framework for all approved money brokers under the Banking Ordinance. The document mandates strict adherence to codes of conduct, robust internal controls, adequate capital and liquid assets, and specific business model restrictions to ensure market integrity. It further outlines the supervisory process, including off-site reviews, on-site examinations, and cooperation with other regulators to monitor compliance and address risks.
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