Regulatory Alerts1994-12-19
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Risk Management Guidelines for Derivatives
The Hong Kong Monetary Authority adopted the Basle Committee's July 1994 paper as a formal guideline for authorized institutions to manage risks in financial derivatives activities. The regulator requires institutions to implement controls tailored to their specific size and complexity while ensuring clients possess the necessary understanding and authority for such transactions. Additionally, the Monetary Authority conducted a survey of institutions with significant derivatives business to assess compliance and plans to issue further operational guidelines in 1995.
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