Regulatory Alerts2021-12-15
Added · Updated
Corporate Governance of Locally Incorporated Authorized Institutions
The Hong Kong Monetary Authority issues guidance to address potential conflicts of interest and time commitment issues regarding outside mandates held by directors and chief executives of authorized institutions. The regulator requires locally incorporated institutions to submit annual data on outside mandates and performance evaluations, while expecting chief executives to avoid commercial outside mandates unless specific safeguards are demonstrated. Overseas-incorporated institutions must apply similar conflict of interest assessments for leadership appointments but are exempt from the annual submission requirement.
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