Record keeping rules hong kong
Webb21 nov. 2024 · The Circular is aimed at providing greater flexibility to licensed corporations with regard to the record keeping required by the Securities and Futures Ordinance (SFO) or the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Regulatory Records). The Circular also clarifies general obligations in relation to electronic data. Webb17 dec. 2024 · The FAQs require LCs that already keep their regulatory records exclusively with an affiliate or EDSP engaged by such affiliate, (whether a Hong Kong or non-Hong Kong entity) without prior approval under s130, to: a. notify the SFC without undue delay; and. b. apply for approval under s130 of the SFO as soon as practicable.
Record keeping rules hong kong
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Webb11 apr. 2024 · Failure to comply with the requirements of the Inland Revenue Ordinance without a valid excuse may result in a maximum fine of HKD $100,000. ... Additionally, it … WebbClearing and Record Keeping Obligations and D esignation of Central Counterparties) Rules (Chapter 571AN, Laws of Hong Kong); -“HKMA” refers to the Hong Kong Monetary …
WebbRecord Keeping. 7. Retention Of Records. 7.1 Standards. A complete set of a sponsor’s records in connection with a listing assignment should be retained in Hong Kong for at least seven years after completion or termination of the relevant transaction. [Paragraph 17.10(d) of the Code of Conduct] 7.2 Guidance Webb3 aug. 2024 · Law stated as of 03 Aug 2024 • Hong Kong - PRC. A Q&A providing a high-level overview of key records retention requirements relating to personal data in Hong Kong. It addresses governing laws, authority guidance, and sector-specific requirements. This Q&A does not address every records retention obligation under Hong Kong laws.
WebbRecord Keeping Section 51C of the Inland Revenue Ordinance: Every person carrying on a trade, profession or business in Hong Kong must keep sufficient business records, either in English or Chinese, for his income and expenditure so as to enable his assessable profits to be ascertained. He must keep such records for at least 7 years. Webb25 aug. 2024 · These laws are created by the Hong Kong Financial Regulator. Customer Due Diligence and Record-keeping Requirements in Hong Kong Banks, financial institutions, insurance agents and accounting firms operating in Hong Kong are subject to AML regulations and must comply with AML obligations.
Webb15 mars 2024 · The guidelines aim to prescribe the relevant policy, principles, requirements and best practices for records management functions and activities from capture, classification and organisation, search and retrieval, use, retention and disposal, to preservation of records to ensure government records, regardless of their forms and …
WebbUnder the rule, information found on Hong Kong Trade and Industry Department’s website (“website information”) stating that no import license is required to import the item into … law office of brian a. meekerWebb27 nov. 2024 · LCs which use external data storage or processing services, but (i) do not keep any Regulatory Records with EDSPs or (ii) keep Regulatory Records with EDSPs, while also keeping a full set of identical Regulatory Records at an SFC-approved record keeping address in Hong Kong. law office of brendan greenWebb16 dec. 2024 · A financial statement includes three main components – the income statement, the balance sheet, and the cash flow statement. To prepare your company’s financial statements, you’ll need to: (1) maintain accounts and records; (2) meet the general requirements; and. (3) choose a financial year-end date. law office of brandon suaWebbLicensed banks that have already been reporting OTC derivative transactions to the Hong Kong Trade Repository under the interim reporting requirements should take note of our ... The reporting and related record keeping requirements will come into effect from the commencement of the Reporting Rules, scheduled for 10 July, 2015 . kanye west account frozenWebb11 apr. 2024 · Recordkeeping is a requirement for you to comply with document retention mandates. The most common business records include: Sufficient records for your business's assessable profits to be ascertained. This includes business records to confirm your calculations: The books of account with your receipts and payments, or income and … kanye west a christian nowWebbClifford Chance Hong Kong Reporting: What you need to know 5 Further points to note: Masking: there are 18 jurisdictions which are designated for masking relief. Record Keeping: records required to be kept under the rules must be kept in a manner that is readily accessible.However the proposed provisions to keep records which evidence the … law office of brian a seyfriedWebb16 dec. 2024 · The Hong Kong Monetary Authority (HKMA) and Securities and Futures Commission (SFC) today (16 December) issued a joint consultation on adding eight new calculation periods under the Clearing Rules ( Note 1) for the over-the-counter (OTC) derivatives regulatory regime ( Note 2 ). law office of brett borland