Hong Kong Monetary Authority requests banks to strengthen supervision of investment accounts for mainland investors

The Hong Kong Monetary Authority responded to the requirement for investment accounts to sign a declaration, stating that the relevant requirements were issued on May 22, involving three measures: closing accounts opened with suspicious or forged documents, closing zero balance accounts, and requiring new account openings to provide a declaration of the legal source of funds. The measures only apply to personal investment accounts and do not include functional accounts such as regular savings and payments, nor do they apply to corporate and institutional clients.