Regulatory Alerts2022-07-25
Added · Updated
Supervisory Policy Manual Module OR-1 on Operational Risk Management
The Hong Kong Monetary Authority issued a revised SPM module OR-1 on Operational Risk Management to implement the Basel Committee's March 2021 principles. Authorized Institutions must comply with the updated requirements regarding change management, information technology, and operational resilience by 25 January 2024. Implementation timelines for operational resilience specifically align with the separate SPM module OR-2 based on the circular letter dated 31 May 2022.
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