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HKMA ramps up bank culture reform

The Hong Kong Monetary Authority (HKMA) has announced its three-phase supervisory plan for assessing bank culture in the city, following in the footsteps of Australia’s Royal Commission. On Wednesday, the HKMA followed up on a circular it published in March 2017, in which it offered practical suggestions on developing bank culture frameworks based on three pillars: governance, incentive systems, and assessment…

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