Enforcement Actions

The HKMA conducts investigations or otherwise follows up on issues arising from on-site examinations and offsite reviews, banking complaints, whistle-blowing and banks’ self-reporting and which raise possible concerns such as breaches of the laws and regulations, misconduct, and/or fitness and properness of banks and/or their staff.  Where sufficient evidence can be established, the Monetary Authority may take appropriate action including the exercise of supervisory and/or disciplinary powers against the bank concerned and/or staff to deter improper practices and behaviour and promote proper standards of conduct and prudent business practices among RIs, and to provide appropriate protection to depositors and investors  The HKMA has also issued guidelines and guidance note setting out the manner in which the Monetary Authority’s power to order a pecuniary penalty under various ordinances is to be exercised and the benefits for banks in cooperating with the HKMA’s investigations and enforcement procedures.