HKMA issues incident response and management procedures

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The Hong Kong Monetary Authority (HKMA) has issued new guidance on how financial institutions should act in the response to "significant incidents" or operational risk events.

The guidance, issued in June to all financial services firms, reminds them to ensure they are quick to respond to any suspected incidents to contain the problem and safeguard the interests of customers. Firms must "proactively notify the customers affected or likely to be affected" as well as advise them how to claim for c

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