Regulatory Alerts2018-12-19
Added · Updated
Supervision for Bank Culture
The Hong Kong Monetary Authority issues supervisory measures to advance its Bank Culture Reform by requiring authorized institutions to conduct self-assessments, undergo focus reviews, and participate in culture dialogues. These measures mandate that institutions evaluate their governance, incentive systems, and feedback mechanisms while benchmarking against global conduct incidents. The HKMA will implement the self-assessment in phases, with the first group of approximately 30 institutions required to submit their reports within six months.
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