Regulatory Alerts2023-03-14
Added · Updated
Revised SPM CG-3 Code of Conduct
The Hong Kong Monetary Authority issued a circular to highlight the Independent Commission Against Corruption's Corruption Prevention Guide for Banks, which supports the implementation of the updated Supervisory Policy Manual module CG-3. This module, revised in December 2022, strengthens conflicts of interest policy requirements and incorporates Prevention of Bribery Ordinance provisions to suppress illegal business practices. Authorized Institutions are required to implement these updated standards by 1 July 2023 and are encouraged to utilize the ICAC Guide to enhance their internal controls and corruption prevention capabilities.
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