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19 Mar 2021

Money lending regime: more stringent regulatory measures

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As we have discussed in our article "Money lending in Hong Kong – pitfalls for lenders and protections for borrowers", the Consumer Council published a report in September 2019 setting out recommendations for better regulation of money lending practices in Hong Kong. The Companies Registry has recently issued new guidelines and revised licensing conditions to money lenders, with a view to address increasing public concerns over irresponsible lending practices of certain money lenders. The new guidelines will take effect from 1 April 2021 and the new licensing conditions apply to licences granted or renewed on or after 16 March 2021.

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