Regulatory Alerts2024-01-05
Added · Updated
Self-Assessment of Compliance with the Code of Banking Practice 2023
The Hong Kong Monetary Authority mandates that licensed institutions conduct a self-assessment of their compliance with the Code of Banking Practice for the period from 11 December 2022 to 30 June 2023. The report must be completed by internal audit or compliance departments, signed by the department head and Chief Executive, and submitted via the STET system by 28 March 2024. Institutions must detail any non-compliance with specific Code sections, including action plans and incident reporting, while also assessing the compliance of their relevant subsidiaries and affiliated companies.
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