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HK regulators urge Mainland FIs to review risky financial arrangements

Following a coordinated inspection of a Mainland-based banking group, the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) have urged financial institutions (FIs) to “urgently” review complex and opaque finance arrangements. According to the circular jointly published by the regulators on Wednesday, the banking group in question operates banks, licensed corporations and other affiliates in Hong…

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