Regulatory Alerts2015-07-14
Added · Updated
BCBS Revised Guidance on Corporate Governance Principles for Banks
The Basel Committee on Banking Supervision issued revised guidance on corporate governance principles for banks on 8 July 2015, superseding the 2010 version with updates on board oversight, risk culture, and compensation systems. The Hong Kong Monetary Authority is aligning its Supervisory Policy Manual with these changes and encourages all authorized institutions to review their governance frameworks for material deficiencies. Banks are urged to take appropriate actions to address any gaps identified in light of the new requirements regarding board competence and risk management.
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