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HKMA to align its rules with SFC’s manager-in-charge programme, lawyers say

HKMA Asian Private Banker
The Hong Kong Monetary Authority

In a move that would level the playing field for banks in the city, the Hong Kong Monetary Authority (HKMA) is said to be updating the Banking Ordinance so that its requirements are aligned with the Securities and Futures Commission’s (SFC) manager-in-charge (MIC) programme. “HKMA wants to align its regulations with the SFC to make sure banks that are only…

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