HKMA warns on renminbi product risks
Meena Datwani, the executive director for banking conduct at the Hong Kong Monetary Authority (HKMA), on September 16 called on firms to properly assess the risks associated with renminbi products.
Datwani called on firms "to ensure that the material features and risks of such products are adequately taken into account in the product due diligence process (including the product risk rating assessment) and the suitability assessment of customers."
Datwani said firms must warn customers of the
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