Kenneth Chau & Co.

News

More stringent additional licensing conditions on money lender licences in Hong Kong

More stringent additional licensing conditions on money lender licences come into operation on December 1, 2016 to better protect the public from being misled by money lending-related malpractices.

The additional licensing conditions stipulate, among other things, that money lenders must not accept a loan application referred by an intermediary if the intermediary is not its appointee registered on the Register of Money Lenders.

Source