Regulatory Alerts2022-05-27
Added · Updated
Supervisory Policy Manual Module TB-1 Regulation and Supervision of Trust Business
The Hong Kong Monetary Authority issued Supervisory Policy Manual Module TB-1 to establish statutory guidelines for the regulation and supervision of trust business. The module mandates that all authorized institutions comply with enhanced client asset protection and conduct requirements, including adherence to an attached Code of Practice, by 1 June 2023. It also introduces a published list of trustees and provides interim exemptions for existing depositaries of collective investment schemes pending the implementation of Type 13 regulated activities.
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