HKMA SPM CG-1: CG-1 Corporate Governance of Locally Incorporated Authorized Institutions

Sets the minimum corporate governance standards: the responsibilities of the board (setting and overseeing objectives and strategies, risk governance, appointment and oversight of senior management, corporate values and standards, remuneration, a suitable and transparent corporate structure, internal and external audit, transparency), the organisation and functioning of the board (charter, meetings), board structure (the chair's role, composition, independent non-executive directors), the specialised committees (nomination, audit, risk, remuneration), the responsibilities of senior management, the role of the HKMA, and the group context. Classification: a statutory guideline issued by the Monetary Authority under the Banking Ordinance §7(3); version V.4, 01.08.2025; applies to locally incorporated AIs.