GCC Consulting

List of Authorized Institution-related Trustees

The Hong Kong Monetary Authority (HKMA) has launched a list of authorized institution (AI)-related trustees on its website to help the public identify and access information on them. This comes after the HKMA issued a Supervisory Policy Manual (SPM) module and Code of Practice for Trust Business in May 2022, which requires AIs and AI subsidiaries to comply with them starting today. The Code aims to enhance protection of client assets held on trust and promote fair treatment of customers, and the HKMA encourages other trustees to adopt it. The List will consist of AIs and AI subsidiaries conducting trust business in Hong Kong as trustees, and other entities can request to be included by submitting an annual declaration on Code compliance to the HKMA.

Resource: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2023/06/20230601-4/


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