The report outlines the progress made in addressing the technical compliance deficiencies first identified in the 2019 Mutual Evaluation Report (MER) relating to the regulation and supervision of Designated Non-Financial Businesses and Professions (DNFBP).
Subsequently, Hong Kong has been upgraded from “Partially Compliant” to “Largely Compliant” in respect of Recommendation 28.
Hong Kong has also made progress in implementing new requirements in respect of Recommendation 15, which had changed since the on-site visits of October and November 2018.