Our Ref.: B1/15C
25 March 2009
The Chief Executive
All Authorized Institutions
Further to my circular of 9 January 2009 requesting all Registered Institutions (RIs) to implement a number of recommendations in the HKMA's Report, the HKMA and the Hong Kong Association of Banks (HKAB) have, through the Retail Banking Taskforce on Sale of Investment Products established by the HKAB, further discussed and worked out the implementation details for these recommendations. All RIs are expected to implement these recommendations according to the implementation details set out in the two Annexes to this letter. The HKMA will in due course conduct onsite examination to review RIs' implementation of these recommendations.
If you have any questions on the above, please get in touch with your usual supervisory contact at the HKMA.