Regulatory Alerts2021-11-23
Added · Updated
Interim Report on Focused Review on Incentive Systems of Front Offices in Retail Banks
The Hong Kong Monetary Authority issued this interim report to outline findings from a focused review of incentive systems within the front offices of retail banks. The document addresses banking conduct and culture, targeting all authorized institutions to ensure compensation structures align with prudent risk management and ethical standards. It serves as a critical update on regulatory expectations regarding the design and implementation of employee incentive schemes in the retail banking sector.
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