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Leave your emailThe National Financial Regulatory Administration explicitly requires insurance institutions to pursue differentiated development paths and curb "fee wars" and illegal commission rebate practices.
Read originalThe National Financial Regulatory Administration explicitly requires insurance institutions to pursue differentiated development paths and curb "fee wars" and illegal rebate practices. This requirement serves as a regulatory direction for standardizing insurance industry operations and optimizing market competition order.
Read originalCarmen Chu, Executive Director (Banking Supervision) of the HKMA, delivered opening remarks at the Finance and AI Forum, introducing the results of the second phase of the GenAI Sandbox, releasing the latest regulatory guidelines on AI applications based on the "ART" framework, and announcing the establishment of an AI training data sharing platform in collaboration with Cyberport and the University of Hong Kong.
Read originalThe HKMA launched the "ART" framework on October 15, centered on accountability, resilience, and trust, to support the banking sector in responsibly adopting artificial intelligence. The framework is accompanied by the release of the latest regulatory guidelines on the responsible use of AI. It also involves collaborating with Cyberport and the University of Hong Kong to build an AI training data sharing platform, and further testing agentic AI applications through the Generative AI Sandbox++.
Read originalOn October 8, 2026, the Hong Kong Monetary Authority (HKMA) issued a circular to all authorized institutions regarding complaints related to debt collection agents engaged by authorized institutions. This circular is linked to multiple previous versions of circulars on the same topic, including documents issued on August 19, 2024, March 26, 2026, and April 10, 2024.
Read originalThe Mandatory Provident Fund Schemes Authority (MPFA) and eMPF Company Limited, leveraging the centralised management capabilities of the eMPF platform, have introduced a number of enhanced measures to combat fraudulent early MPF withdrawal. These measures include requiring early withdrawal applicants to submit original supporting documents for review, updating the MPF withdrawal application form, and refining the medical certification requirements for early withdrawal applications based on total incapacity or terminal illness. Forging or using false documents constitutes a serious criminal offence, carrying a maximum penalty of 14 years' imprisonment upon conviction.
Read originalThe Hong Kong Monetary Authority (HKMA) issued a circular on current GS-2 transition planning on September 22, 2026, applicable to all authorized institutions. This circular is directly linked to the current SPM-NGL document, cross-references the CPR document filed on July 20, 2021, and replaces the old version of SPM-NGL and its corresponding circular dated December 30, 2021.
Read originalOn September 3, 2026, the Hong Kong Monetary Authority issued a circular on remote account opening for individual customers addressed to all authorized institutions. This circular is currently in effect and is linked to multiple related current and archived circular documents issued between 2019 and 2026.
Read originalThe Hong Kong Monetary Authority issued risk-based anti-money laundering and counter-terrorist financing controls guidance for politically exposed persons on August 28, 2026, addressed to all authorized institutions. This guidance replaces the previous version issued on November 21, 2025, with accompanying annexes updated simultaneously.
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