Regulatory Alerts2024-05-23
Added · Updated
Supervisory Policy Manual Module CG-6: Competence and Ethical Behaviour
The Hong Kong Monetary Authority issues this non-statutory guideline requiring Authorized Institutions to ensure the competence and ethical behavior of all staff levels. The Board of Directors holds ultimate responsibility for embedding a culture of integrity and implementing robust policies for staff recruitment, assessment, and continuous training. Institutions must utilize benchmarks like the Enhanced Competency Framework to verify that personnel possess the necessary skills, knowledge, and professional qualifications to manage risks and protect depositor interests.
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