Hong Kong Monetary Authority: Three new regulatory measures for mainland investor investment accounts, account opening verification to be traced back to January 2023
The Hong Kong Monetary Authority (HKMA) has introduced three new regulatory measures for investment accounts opened by mainland Chinese investors. These measures include closing accounts opened with suspicious or forged documents, identifying accounts with no balance and no customer activity for 12 months, and requiring new investors to provide written confirmation that their funds originate from outside mainland China. These new rules specifically target individual investment accounts and do not affect non-investment banking functions or corporate clients. AI