HKMA’s new definition of “private banking customers” has far-reaching implications for industry

3 October 2012 | 3 minutes read

The Hong Kong Monetary Authority’s (HKMA) revised definition of “private banking customers”, announced in mid-July, is likely to have far-reaching implications for the industry in Hong Kong. The new definition, wherein private banking clients are classified as individuals with a minimum of US$1 million in assets under management with the bank or US$3 million in total investable assets, is likely…

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