Macau – CM PB – Update 2021

Oct 14, 2021

Country Manuals Private Banking

MACAU OUT OF BANK’S COUNTRY OF ESTABLISHMENT (Def, RS, BT & RT)

Regulatory Template


Material changes

Following consultations with our local counsel, we have reviewed and updated the documents to take into account any evolving interpretation of the regulatory framework. We can confirm that there have been no relevant regulatory changes since the last publication of this Country Manual.


Implications for business relations with third parties
There have been no substantial changes to the answers when a foreign bank co-operates with third parties.

Non-material changes
– Several comments have been slightly reworded (without introducing material changes) to reflect the regulatory situation/current interpretation of the regulatory framework more accurately.
– For streamlining purposes, several BT conditions have been reworded without introducing material change.
– In several instances, the comments for Grey zone/YES have been changed to reflect standardised comments that BRP has adopted as a result of using a new editing platform for the creation of manuals. The underlying reasoning has not changed.

Regulatory Summary
This document has now a more user-friendly layout and reflects the changes contained in the RT.

Behaviour Template
The answers in the BT have been aligned to those contained in the RT.

BT Short Comparison
BRP has created a comparison document allowing users to quickly identify the modifications made compared to the previous version of the PB Manual (BT Short Comparison). The BT Short Comparison can be found on BRP’s platform (mybrponline) in the Search tab by entering in the Document Field “CM PB BT SHORT COMP” and “MACAO” in the Target Country Field.

The BT Short Comparison should be read as follows:

The first column contains a short description of the activity in question. The second column contains the answers of the previous version of the Country Manual (online until the day of the alert). The third column contains the new answers of the most recent version of the Country Manual. Only the modified answers are displayed (in color). If the answers in the new version are unchanged compared to the previous version, they are shaded in grey.

Best regards,