Regulatory Alerts2022-11-16
Added · Updated
Supervisory Policy Manual Module IC-7: The Sharing and Use of Commercial Credit Data through a Credit Reference Agency
The Hong Kong Monetary Authority issued a revised Supervisory Policy Manual Module IC-7 to establish regulatory expectations for Authorized Institutions accessing the Commercial Credit Reference Agency database via the Commercial Data Interchange. The revision mandates that institutions strongly utilize the CDI channel for frequent data access and implement robust safeguards to protect the confidentiality, accuracy, and proper utilization of both commercial and alternative credit data. This statutory guideline takes effect on 30 December 2022, aligning supervisory requirements with the operational launch of the CDI platform.
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