HKMA set to turn up the heat on bank culture in 2019

On 19 December 2018, the Hong Kong Monetary Authority (HKMA) announced that it will introduce supervisory measures (Supervisory Measures) focused specifically on measuring authorised institutions’ (AI) progress in implementing reforms to their culture. The Supervisory Measures include requiring AIs to complete and return self-assessment forms regarding their culture to the HKMA, and undertaking on-site reviews focused specifically on culture. For our full briefing on the supervisory measures, please click here

William Hallatt
William Hallatt
Head of Financial Services Regulatory, Asia, Hong Kong
+852 2101 4036
Gareth Thomas
Gareth Thomas
Partner, Hong Kong
+852 2101 4025
Hannah Cassidy
Hannah Cassidy
Partner, Hong Kong
+852 2101 4133
Emily Rumble
Emily Rumble
Associate, Hong Kong
+852 2101 4225

A NEW GLOBAL TOOLKIT FOR FIGHTING MISCONDUCT RISK: WHAT DOES THIS MEAN FOR FIRMS AND REGULATORS?

On 20 April 2018, the Financial Stability Board (FSB) released its long awaited toolkit (Toolkit) for firms and regulators’ use in fighting misconduct risk. The Toolkit forms part of the FSB’s workplan to mitigate misconduct risk, and builds on existing measures such as the FSB’s guidance on sound compensation practicesContinue reading