Regulatory Alerts2011-06-17
Added · Updated
Communication of Supervisory Standards to Boards of Directors
The Hong Kong Monetary Authority requires authorized institutions to ensure that covering letters for Supervisory Policy Manual modules are promptly distributed to board members or relevant head office officers. This initiative aims to facilitate swift understanding of regulatory standards and supervisory expectations to support effective board oversight of risk management. Institutions must continue to rely on the full text of the modules and conduct regular briefings, as the covering letters serve only as a reference and not a substitute for complete regulatory guidance.
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