Laws and Regulations-China New Trustee Limited

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Laws and Regulations

Laws and Regulations

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Robust Regulatory Environment

As one of the global financial centers, Hong Kong has a complete legal system and an independent judiciary, making it a globally recognized jurisdiction. Trust services in Hong Kong have a history of over a century and are regulated by the Hong Kong Trustees Ordinance. They are also applicable to the Hague Convention and the Hong Kong Trust Recognition Ordinance, providing a high level of protection for tursts in Hong Kong.

Regulated Licensed Institutions

China New Trustee Limted has been awarded the TCSP (Trust or Company Service Provider) license and Trust Company Registration Certificate issued by the Hong Kong Companies Registry. We strictly complies with the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, and abides by the Hong Kong Trustees Ordinance and other trust industry regulations.

Customer Privacy Protection

According to the "Hong Kong Personal Data (Privacy) Ordinance", the privacy of customers who establish a trust is protected by law, and trusts in Hong Kong are not required to be registered or disclosed publicly. Except for necessary account opening or obtaining permission from the trustor, trustees are not obligated to disclose information to third parties, ensuring strict confidentiality of customer privacy.

Bankruptcy Isolation System

Trust assets in Hong Kong are afforded strict legal protection, ensuring their independence and effectiveness. Trust assets are strictly separated from the trustee. The bankruptcy of a trust company will not affect the trust assets. Generally, the court appoints a bankruptcy liquidator to distribute the trust assets in the event of bankruptcy, or the parties involved may appoint a new trustee to manage the assets with stringent internal and external controls in place.

Strict Internal and External Controls

China New Trustee adheres to stringent multi-level and distributed risk control strategies, implementing white-listing, authorization groups, and limited management to ensure the internal separation of responsibilities for operations, approvals and monitoring.

Designated Supervisor

The trustor has the right to appoint an independent protector to provide daily supervision of the trustee, and has the right to review the utilization of trust assets and changes in core elements to ensure that the trust operation is in a secure environment under multiple parties control.

Intelligent Anti-Money Laundering

China New Trustee automatic anti-money laundering ("AML") monitoring system can intelligently evaluate high-risk accounts with assets, send alerts to customers and implemen fund isolation measures to ensure the security of trust asset transactions.

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