Due for release in December 2023, the second edition of this text is for persons involved in compliance for international and local financial institutions within the scope of Cap. 628, which consists of 244 sections over 15 Parts, and 9 schedules. The Ordinance implements the Financial Stability Board’s “Key Attributes of Effective Resolution Regimes for Financial Institutions”. It is a cross-sectoral statute that provides for new regulatory powers for the existing regulators in respect of all banks, certain insurers and licensed corporations, as well as financial market infrastructure entities, and establishes two new administrative tribunals for review purposes.

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