Examples of HKMA in a sentence
RMB convertibility from offshore RMB (CNH) to onshore RMB (CNY) is a managed currency process subject to foreign exchange control policies of and repatriation restrictions imposed by the Chinese government in coordination with the Hong Kong Monetary Authority (HKMA).
Afresh letter mentioning the date of cessation as 28.09.2018 was sent to HKMA on 19.10.2018 resulting in a delay of 7 days in reporting.
The branch has been cautioned by HKMA against recurrence of similar contraventions and no monetary penalty has been imposed.
In case there are areas where the regulatory treatment is different from the accounting treatment, the HKMA will consider each scenario on a case by case basis.
Hong Kong branch Hong Kong Monetary Authority (HKMA) imposed penalty of HKD 7,500,000 (INR 64,340,327) on Hong Kong branch for not having adequate control procedures in respect of customer due diligence, monitoring of business relationship and determining beneficial ownership as per the Anti Money Laundering Ordinance of 2012.