Hong Kong Monetary Authority: Three Additional Measures for Opening and Managing Mainland Investor Investment Accounts, Account Opening Due Diligence to be Retrospective to January 2023

BlockBeats News, May 27th - In response to the issue of "Part of Hong Kong Banks Requiring Declaration for Opening Investment Accounts," the Hong Kong Monetary Authority (HKMA) responded today, stating that the relevant regulatory requirements were issued to all authorized institutions on May 22nd.

The materials provided by the HKMA show that registered institutions are required to take three additional measures when opening and managing investment accounts for mainland investors, including:

1. Close investment accounts opened using suspicious or forged documents and identify any customer investment accounts that have been opened using suspicious or forged documents since January 2023 or any other period specified by the HKMA, with relevant documents including identification documents;

2. Close zero-balance dormant investment accounts, specifically referring to investment accounts held by mainland investors that have had no asset balance as of May 22, 2026 (reference date) and no customer-initiated activities in the 12 months period prior to the reference date;

3. When opening a new investment account, obtain a written declaration from the mainland investor confirming that all funds used to support investment activities and related settlements are from legitimate sources outside mainland China.

The additional regulatory measures apply only to investment accounts, including investment accounts within comprehensive banking accounts. Non-investment functions (such as regular savings, time deposits, payments, loans, and credit cards) are not covered by the measures. Furthermore, these additional measures apply to individual clients and do not apply to corporate or institutional clients. (Finance Association)