The Hong Kong Monetary Authority has finally taken action.

The investigation back to January 2023 has identified the following 3 key points:
1. Close investment accounts opened using suspicious or forged documents, and identify any customer investment accounts that have been opened since January 2023 or during any other period specified by the HKMA using suspicious or forged documents, including identification documents;
2. Close zero-balance inactive investment accounts—specifically, investment accounts held by Mainland investors that, as of May 22, 2026 (reference date), have had no assets or balance, and that have had no customer-initiated activity in the 12 months prior to the reference date;
3. When opening a new investment account, obtain a written declaration from the Mainland investor confirming that all funds used to support investment activities and related settlement are from legitimate sources outside Mainland China, etc.