This page is the master list of sources cited across privatebanking.hk, grouped by issuing institution. Each entry gives the institution, title, date, link and how the source is used on this site. In the "Use" column, "secondary" means a summary of the original by a law firm, accounting firm or media outlet, and "to be verified" means an entry for which this site has not yet obtained the original and which is not cited directly for figures.
How to use this list
Dating conventions: for legislation, circulars and press releases, the date of issue or effective date is given; for web pages, the update date shown on the page; and where a page carries no date, the date this site accessed it. All rules are subject to each institution's current version. This site revises the relevant pages when rules change, but does not guarantee that it is in step with the official sources. Bank website material describes only that bank's published position and does not constitute an assessment or recommendation.
| Verification status | Meaning | How it is written in the text |
|---|---|---|
| Original | This site read the official original document or page directly | Cited directly with the source named |
| Secondary | Summarised by a law firm, accounting firm or media outlet | Marked "as reported by…" |
| To be verified | Original not obtained | No specific figures; only the mechanism is described |
Hong Kong regulators: HKMA, SFC, Insurance Authority, Deposit Protection Board
| Institution | Title | Date | Link | Use |
|---|---|---|---|---|
| HKMA | Hong Kong's Wealth Management Market: Opportunities Ahead（inSight） | 2025-08-04 | Link | Private banking AUM up 15% year on year, net inflows of HK$384 billion; 46 private banks in 2024; adoption of the SPI streamlined approach |
| HKMA, SFC | Streamlined approach for compliance with suitability obligations when dealing with SPIs | 2023-07-28 | Link | Content and limits of the SPI streamlined approach |
| HKMA | Credit Risk Management of Share Margin Financing（B1/15C） | 2021-10-22 | Link | Share loan-to-value ratios no longer set by reference to market practice |
| HKMA | SPM CR-S-4 修订版发出函（B1/15C、B1/21C）(cover letter issuing revised SPM CR-S-4) | 2023-11-17 | Link | Revised CR-S-4 effective 22 November 2023 |
| HKMA | Regulatory Update on AML/CFT: Understanding Source of Wealth Requirements | 2016-01-21 | Link | Definitions of source of wealth and source of funds; due diligence expectations for private banking |
| HKMA | Amendments to Guideline on Anti-Money Laundering and Counter-Financing of Terrorism (For Authorized Institutions) | 2023-05-25 | Link | Amendments to the AML guideline for authorized institutions (cited on the onboarding and KYC page) |
| HKMA | Implementation of first phase of enhancement measures of Deposit Protection Scheme | 2024-10-01 | Link | Deposit protection limit of HK$800,000; simplified negative disclosure for private banking clients |
| HKMA | Enhanced Competency Framework for Private Wealth Management Practitioners（新闻稿）(press release) | 2014-06-24 | Link | ECF-PWM and the CPWP qualification |
| HKMA | Update on ECF-PWM（通函）(circular) | 2021-07-14 | Link | Addition of the CPWPA qualification |
| HKMA | Use of Premium Financing to take out Long Term Insurance Policies（致所有认可机构的通告，B1/15C、C2/5C）(circular to all authorized institutions) | 2022-04-01 | Link | Consideration and disclosure of the over-leveraging ratio when a bank acts as lender; treatment of the cooling-off period; affordability assessment where the bank has a dual role |
| HKMA | Expected controls for account opening and maintaining relationships with clients with investment accounts（B1/15C、G16/1C）及附件 1、2 (and Annexes 1 and 2) | 2026-05-22 | Circular; Annex 1; Annex 2 | Written declarations for investment accounts of Mainland individual investors; settlement through accounts in the client's own name; scope of application |
| SFC | Circular to licensed corporations – Expected controls for account opening and maintaining relationships with clients | 2026-05-22 | Link | The SFC's account-opening controls circular issued the same day (annexed to the HKMA circular) |
| SFC | Do you need a licence or registration? | Accessed 2026-10-24 | Link | Section 115 of the Securities and Futures Ordinance: actively marketing to the Hong Kong public requires a licence or registration |
| HKMA | Premium Financing（Smart Consumers） | 2024-01-24 | Link | Consumer risk warnings on premium financing |
| HKMA | Register of Authorized Institutions and Local Representative Offices | Accessed 2026-10-24 | Link | Verifying a bank's authorized institution category |
| HKMA | Register of Authorized Institutions – Bank of Singapore Limited | 2026-10-06 | Link | Bank of Singapore's registration details as an authorized institution in Hong Kong |
| SFC, HKMA | Findings of concurrent SFC-HKMA thematic review of spread charges and other practices（21EC48） | 2021-10-29 | Link | Spreads, price improvement and disclosure of benefits |
| SFC | FAQ on Code of Conduct（paragraphs 8.3 and 10.2） | 2017-11-16 | Link | Disclosure of unquantifiable benefits; restrictions on describing oneself as "independent" (effective dates of the provisions to be verified) |
| SFC | Code of Conduct for Persons Licensed by or Registered with the SFC（2025-12 版）(December 2025 edition) | 2025-12 | Link | Current version of the Code of Conduct |
| SFC, Legislative Council | 《证券及期货（专业投资者）规则》立法会参考资料（原规则与 2018 修订）(Legislative Council briefs on the Securities and Futures (Professional Investor) Rules: original Rules and 2018 amendments) | 2002-11; 2018 | Link; 2018 | Individual PI portfolio threshold of HK$8 million |
| IA | Circular on the supervisory standards and key requirements on the use of premium financing（INS/TEC/9/2/2/26） | 2022-04-01 | Link | Supervisory standards on premium financing, effective 1 January 2023 |
| IA, HKMA | Findings from IA-HKMA joint inspection exercise on premium financing | 2024-06-27 | Link | Shortcomings identified in the joint inspection |
| IA | Observations on insurance business carried on with the use of premium financing facilities（INS/TEC/9/2/2/26） | 2026-08-20 | Link | Increased use of premium financing in the first half of 2026; loan-to-surrender-value ratios and policy leverage; arrangements for joint inspections in the second half of the year |
| IA, IFEC | GL29 冷静期说明（Selling process）(GL29 cooling-off period explanation) | Effective 2019-09-23 | Link | Cooling-off period of 21 calendar days |
| Deposit Protection Board | Deposit Protection Scheme（网站）(website) | Accessed 2026-10-24 | Link | Protected currencies; offshore deposits and time deposits of more than five years are not protected |
| Deposit Protection Board | DPS FAQ | Accessed 2026-10-24 | Link | Only licensed banks are Scheme members |
| Financial Dispute Resolution Centre (FDRC) | Financial Dispute Resolution Scheme | Accessed 2026-10-24 | Link | Hong Kong's Financial Dispute Resolution Scheme (cited on the booking centre page; the site blocks automated retrieval, so the claim limit was cross-checked against the government press release below) |
| HKSAR Government | Government welcomes enhancements to Financial Dispute Resolution Scheme | 2017-08-29 | Link | FDRC maximum claim raised from HK$500,000 to HK$1 million, implemented in phases from 1 January 2018 |
Hong Kong tax, AEOI and trust law
This group is used to explain Hong Kong's automatic exchange of financial account information (AEOI/CRS) framework, the definition of tax residence, the abolition of estate duty and the territorial source principle for profits tax, as well as the background to the 2013 trust law reform. The tax entries state only the official rules; an individual's tax outcome depends on tax residence and specific circumstances, so obtain professional advice in the relevant jurisdiction. For trust law, this site currently has only Legislative Council papers and law firm summaries, so the main text describes the mechanism only and does not cite section numbers.
| Institution | Title | Date | Link | Use |
|---|---|---|---|---|
| IRD | Automatic Exchange of Financial Account Information | Accessed 2026-10-22 | Link | Hong Kong AEOI implemented from 30 June 2016; reporting scope |
| IRD | FAQ on AEOI | Accessed 2026-10-22 | Link | Definition of tax residence; reportable jurisdictions |
| IRD | CARF and Amended CRS Bill 2026 | Accessed 2026-10-22 | Link | Timetable for the amended CRS and CARF (subject to legislative progress) |
| IRD | Estate Duty | Accessed 2026-10-22 | Link | Estate duty abolished from 11 February 2006 |
| IRD | Profits Tax | Accessed 2026-10-22 | Link | Capital profits and the territorial source principle |
| Legislative Council | Bills Committee paper on Trust Law (Amendment) Bill | 2013 | Link | Background to the 2013 trust law reform (secondary · to be verified) |
| HKSAR Government | LCQ18: Cross-boundary Wealth Management Connect Scheme | 2024-06-12 | Link | Individual quota under Cross-boundary Wealth Management Connect of RMB3 million |
Singapore regulators and industry bodies: MAS, ABS, SDIC, LIA, IBF, AGC
| Institution | Title | Date | Link | Use |
|---|---|---|---|---|
| AGC (SSO) | Securities and Futures Act 2001, s 4A | Accessed 2026-10-22 | Link | Accredited Investor eligibility and opt-in |
| MAS | Written reply to PQ on the review of investor definitions under SFA | 2025-02-05 | Link | AI criteria last updated in 2018 |
| MAS | MAS Notice 626（及指引）(and Guidelines) | 2024-03-28; 2025-06-30 | Link | PEPs, source of wealth and source of funds |
| MAS | MAS Welcomes Launch of Private Banking Code of Conduct | 2011-04-05 | Link | Code launched by the Private Banking Advisory Group (PBAG); CACS |
| MAS | SORA Interest Rate Benchmark | Accessed 2026-10-23 | Link | Definition and publication timing of SORA |
| MAS | Understanding universal life insurance policies（MoneySense） | 2026-09-28 | Link | Risk warnings on premium financing |
| MAS | Speech by Deputy Chairman at WMI Global-Asia Family Office Summit | 2025-09-29 | Link | Private banking client assets grew 19% in 2024 |
| MAS | Written reply on SFOs | 2026-08-05 | Link | Assets under management of S$6.7 trillion in 2025; number of single family offices |
| MAS | Fund Tax Schemes for Family Offices（含 FDD Cir 05/2026）(including FDD Cir 05/2026) | 2026-07-31; page 2026-09-22 | Link | Asset thresholds and private banking account condition for single family office funds newly approved from 1 August 2026 |
| MAS | Tax Incentive Schemes for Funds（FDD Cir 05/2026，通函 PDF）(circular PDF) | 2026-07-31 | Link | Annexes 6B and 7B: bank account conditions for existing single family office awards and the three-month grace period from 1 August 2026 |
| FIDReC | 官网首页 (homepage) | Accessed 2026-10-24 | Link | Adjudication limit of S$150,000 per claim |
| GIA | Insurance disputes | Accessed 2026-10-24 | Link | FIDReC limit determined by whether the claim was filed before or after 1 July 2024 |
| MAS | Licensed trust companies | 2023-09-29 | Link | Licensing of trust services and the exemption for private trust companies |
| MAS | Financial Institutions Directory | Accessed 2026-10-24 | Link | Verifying the licences and exemption categories of Singapore financial institutions |
| MAS | Guidelines on Fair Dealing – Board and Senior Management Responsibilities | 2024-05-30 | Link | Fair dealing framework |
| MAS | Notice FAA-N03 Information to Clients and Product Information Disclosure（含 FAA-PN01）(including FAA-PN01) | 2018-10-05; PN01 2018-10-08 | Link | Disclosure of financial advisers' remuneration and conflicts of interest |
| AGC (SSO) | Civil Law Act 1909, s 32 | Accessed 2026-10-22 | Link | Trust perpetuity period of 100 years |
| ABS | Private Banking（ABS Industry Guidelines） | Accessed 2026-10-24 | Link | The 2020 revised Private Banking Code of Conduct, among others |
| ACIP (ABS website) | Best Practices on Source of Wealth Due Diligence | 2025-05 | Link | Industry practice on source of wealth due diligence (not an MAS rule) |
| SDIC | Deposit Insurance Scheme FAQ; Scope of coverage | Accessed 2026-10-23 | FAQ; Scope | S$100,000 limit, Singapore dollar deposits only |
| LIA | Your Guide to Nomination of Insurance Nominees（2026-03 v1.0） | 2026-03 | Link | Trust nominations, revocable nominations and conflicts with assignment |
| IBF | CACS CPD Info Advisory Note v8.2 | 2022-07 | Link | CACS continuing professional development (secondary · may be out of date; training hours not cited) |
Singapore tax: IRAS
This group comes from the website of the Inland Revenue Authority of Singapore (IRAS) and is used to explain Singapore's CRS exchange timetable and the amended CRS arrangements, how individual tax residence is determined, the fact that estate duty has not been levied since 15 February 2008, and the general rules on individuals' foreign-sourced income. Web page dates are the update dates shown on the IRAS pages. This site cites only the rules themselves and does not estimate any tax amounts; for individual circumstances, check with professionals in Singapore and in your own jurisdiction of tax residence.
| Institution | Title | Date | Link | Use |
|---|---|---|---|---|
| IRAS | CRS Overview and Latest Developments | 2026-09-09 | Link | Exchanges since September 2018; timetable for the amended CRS |
| IRAS | Individual income tax rates / Tax residency | 2026-04-27 | Link | Determining individual tax residence |
| IRAS | Estate Duty | 2026-03-09 | Link | Estate duty not levied from 15 February 2008 |
| IRAS | Income received from overseas | 2026-03-02 | Link | General rules on individuals' foreign-sourced income |
Mainland China: foreign exchange and tax
| Institution | Title | Date | Link | Use |
|---|---|---|---|---|
| State Administration of Foreign Exchange (SAFE), Xiamen Branch | 个人外汇业务服务小贴士 (Tips on personal foreign exchange services) | 2021-10 | Link | Foreign exchange purchased by individuals may not be used for overseas securities investment, life insurance and similar |
| State Administration of Foreign Exchange (SAFE), Sichuan Branch | 业务咨询常见问题一览 (Frequently asked questions on business enquiries) | 2019-05-27 | Link | Overseas life insurance is a capital account item and not yet open |
| Ministry of Finance; State Taxation Administration | 2020 年第 3 号公告（境外所得）(Announcement No. 3 of 2020 on overseas income) | 2020-01-17 | Link | Overseas income to be reported between 1 March and 30 June of the following year |
| State Taxation Administration and five other authorities | 《非居民金融账户涉税信息尽职调查管理办法》（2017 年第 14 号）(Administrative Measures on Due Diligence of Tax-related Information of Non-resident Financial Accounts, No. 14 of 2017) | 2017-05-09 | Link | Mainland CRS measures, effective 1 July 2017 |
Bank websites and market benchmarks
| Institution | Title | Date | Link | Use |
|---|---|---|---|---|
| Bank of Singapore | Individuals | Accessed 2026-10-23 | Link | Published threshold of US$5 million in investable assets; BOS Trustee Limited |
| Bank of Singapore | Explore financing solutions | Accessed 2026-10-23 | Link | Premium financing applies only to single-premium and fully paid-up policies |
| OCBC | OCBC Bank Launches a Dedicated Private Bank, Bank of Singapore, formerly known as ING Asia Private Bank（Completion Announcement） | 2010-01-29 | Link | Acquisition of ING Asia Private Bank and its renaming as Bank of Singapore |
| Bank of Singapore | About Us | Accessed 2026-10-24 | Link | Wholly owned private banking subsidiary of OCBC |
| Bank of Singapore | Private Banking Hong Kong | Accessed 2026-10-24 | Link | Hong Kong branch |
| Bank of Singapore | Explanation of Effect of Being Treated as an Accredited Investor（Version 10/23） | 2023-10 | Link | Statutory requirements waived under Accredited Investor status |
| DBS | DBS Private Banking – Why us | Accessed 2026-10-23 | Link | Published threshold of US$5 million in investable assets |
| OCBC | Premier Banking | Accessed 2026-10-23 | Link | Published criteria for Premier Private Client |
| HSBC Bank (Singapore) | HSBC Lombard Lending Facility Terms and Conditions | Effective 2025-04-30 | Link | Single-bank example of margin calls and the right to dispose of collateral |
| Federal Reserve Bank of New York | Secured Overnight Financing Rate (SOFR) | Accessed 2026-10-24 | Link | Common interest rate benchmark for US dollar loans |
Secondary and to-be-verified sources
| Source | Title | Date | Link | Status and use |
|---|---|---|---|---|
| Charltons | SFC/HKMA New Suitability Obligations for Sophisticated Professional Investors | 2023-08-08 | Link | Secondary: SPI financial test (portfolio of HK$40 million / net assets of HK$80 million, excluding principal residence), knowledge and experience test, written agreement and annual review (original text of Annex 1 to the circular to be verified) |
| KPMG China | Updates to HKMA requirements for share margin financing | 2023-12 | Link | Secondary: commentary on the revised CR-S-4; share margin financing as a component of Lombard products |
| PwC | 跨境理财通优化措施说明（PDF）(note on enhancements to Cross-boundary Wealth Management Connect) | 2024-02 | Link | Secondary: breakdown of Cross-boundary Wealth Management Connect quotas |
| Rosemont | Hong Kong's Trust Law reform 2013 | 2013 | Link | Secondary: key points of the 2013 trust law reform |
| Stephenson Harwood | New sophisticated professional investor regime – what you need to know（文章及 PDF）(article and PDF) | 2023-08-24 | Article; PDF | Secondary: law firm summary of the eligibility tests in Annex 1 to the SPI circular (original annex to be verified) |
If you find a broken link or a rule that has changed, please let us know through the contact details on this site, and we will check and revise the relevant pages.
Sources and dates
- Hong Kong's Wealth Management Market: Opportunities Ahead（inSight） — Hong Kong Monetary Authority (HKMA) · 2025-08-04
- Streamlined approach for compliance with suitability obligations when dealing with sophisticated professional investors — Hong Kong Monetary Authority (HKMA); Securities and Futures Commission (SFC) · 2023-07-28
- Private Banking（ABS Industry Guidelines） — The Association of Banks in Singapore (ABS) · 2026-10-24
- Securities and Futures Act 2001, s 4A — Attorney-General's Chambers (AGC), Singapore Statutes Online · 2026-10-22