Regulatory Alerts2017-03-02
Added · Updated
Bank Culture Reform
The Hong Kong Monetary Authority issued this circular to require Authorized Institutions to develop and promote a sound corporate culture that supports prudent risk management and ethical staff behavior. The guidance mandates the adoption of a holistic framework centered on three pillars: governance, incentive systems, and assessment and feedback mechanisms. Authorized Institutions must review and implement necessary enhancements to their governance arrangements and policies within one year of the circular's date.
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