Hong Kong Law

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    Virtual Bank Authorisation: HKMA Issues New Guideline

    Virtual Bank Authorisation: HKMA Issues New Guideline

    The HKMA published its revised Guideline on Authorization of Virtual Banks intended to encourage virtual banking in Hong Kong. It is one of seven initiatives to move Hong Kong to a “new era of smart banking”.
    Virtual Bank Authorisation: HKMA Issues New Guideline

    Consultation Conclusions on WVR Listings

    The Guidelines will clarify how SFC-licensed and registered entities should comply in an online environment with the obligation to ensure the suitability of client recommendations and solicitations.