Regulatory Alerts2013-08-14
Added · Updated
Skills and Knowledge Development for Directors of Locally Incorporated Authorized Institutions
The Hong Kong Monetary Authority issued this circular to outline enhanced requirements for the training and development of directors, chief executives, and alternate chief executives at locally incorporated authorized institutions. Institutions must now submit annual summary records of directors' training activities to supervisory contacts by 31 January 2014, with participation in such development considered during corporate governance assessments. To support these efforts, the HKMA established an advisory group to guide industry standards and invited the Hong Kong Institute of Bankers to provide centralized induction and continuing development programmes.
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