Regulatory Alerts2010-09-16
Added · Updated
Selling of Renminbi Deposit, Investment and Insurance Products
The Hong Kong Monetary Authority requires authorized institutions to ensure that the material features and risks of Renminbi products are adequately assessed during due diligence and suitability evaluations. Institutions must provide balanced disclosures to customers, specifically highlighting currency conversion restrictions, exchange rate fluctuations, and the lack of guaranteed returns. Furthermore, AIs are mandated to explain specific product risks such as credit, interest rate, liquidity, and counterparty risks, while strictly prohibiting leveraged trading facilities for personal customers and designated business customers.
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