In the past few months the HKMA issued a series of new guidelines applying to authorised institutions operating or incorporated in Hong Kong. A brief digest of some of these guidelines follows.
Financial Disclosure
In November 2002 the HKMA issued a new version of its FD-1 "Financial Disclosure by Locally Incorporated Authorised Institutions".
This replaces the earlier version, dated 2 November 2001, of the statutory guideline. It sets out minimum disclosure standards which the HKMA expects authorised institutions incorporated in Hong Kong to comply in respect of information to be included in their annual accounts. The guideline does not apply to smaller restricted licensed banks and deposit-taking companies.
