Gazettal of revised SPM CG-1 on corporate governance

55th Floor, Two International Finance Centre, 香 港 中 環 金 融 街 8 號 國 際 金 融 中 心 2 期 55 樓 8 Finance Street, Central, Hong Kong 網 址：www.hkma.gov.hk Website: www.hkma.gov.hk Banking Policy Department Our Ref: B1/15C B1/20C B1/21C 1 August 2025 The Chief Executive All Locally Incorporated Authorized Institutions Dear Sir/Madam, Gazettal of revised SPM CG-1 on corporate governance I am writing to inform you that, following consultation with the two industry Associations, the Monetary Authority is issuing by notice in the Gazette today a revised version of the SPM module CG-1 “Corporate Governance of Locally Incorporated Authorized Institutions” as a statutory guidance under section 7(3) of the Banking Ordinance. The updates in the revised module were primarily made to align with the requirements set out in an HKMA circular dated 15 December 2021, with a view to minimising potential conflicts of interest of directors and senior management in holding directorships or management positions in entities outside the AI’s banking group.1 The revised module is available on the HKMA’s public website 2 and the Supervisory Communication Website3 . It will take effect from today. 1 https://www.hkma.gov.hk/media/eng/doc/key-information/guidelines-and-circular/2021/20211215e1.pdf 2 https://brdr.hkma.gov.hk/eng/spm 3 https://brdr.stet.iclnet.hk/eng/spm

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Should you have any questions regarding the revised SPM module, please contact Mr Ian Lau at 2878 1774. Yours faithfully, Donald Chen Executive Director (Banking Policy) Encl cc: The Chairperson, The Hong Kong Association of Banks The Chairperson, The DTC Association FSTB (Attn: Mr Timothy Wong)