Regulatory Alerts2019-08-23
Added · Updated
Update on Requirements for Opening of Accounts Following Amendments to Paragraph 5.1 of the Code of Conduct
The Hong Kong Monetary Authority issued this circular to provide updated guidance on account opening requirements following the Securities and Futures Commission's amendments to Paragraph 5.1 of the Code of Conduct. The document supersedes previous HKMA and SFC circulars by directing intermediaries to the SFC's designated webpage for acceptable non-face-to-face identity verification approaches. It clarifies that registered institutions are not required to re-verify a client's identity for an investment account if that identity was already established when opening a bank account.
More like this from HKMA
HKMA published 11 documents in the last 30 days. We email you each new one the day it's published.
Topics
Share