HKMA SPM module lifecycle + versioning + consultation. KEY LIFECYCLE STAGES: (1) HKMA INTERNAL REVIEW + INDUSTRY ENGAGEMENT - identification of need for new module or revision based on sectoral risk + international framework changes + emerging issues + HKMA assessment; (2) DRAFT MODULE + CONSULTATION - HKMA issues draft module for industry + sectoral consultation; ~3-6 months consultation period + public comment + stakeholder engagement; (3) HKMA FINALISATION - HKMA reviews comments + makes amendments + finalises module + sectoral communication; (4) EFFECTIVE DATE + TRANSITION - typically 6-12 months transition for AIs to implement + supervisory expectations; (5) SECTORAL IMPLEMENTATION + COMPLIANCE - AIs implement + integrate into governance + risk management + reporting; HKMA supervisory dialogue + thematic reviews; (6) ONGOING SUPERVISORY DIALOGUE + REMEDIATION - HKMA assesses compliance + remediation + escalation if needed; (7) PERIODIC REVIEW + UPDATE - HKMA reviews module periodically (typically 3-5 years) + updates based on lessons learned + international framework changes. VERSIONING: each module has version number (V1 + V2 + V3) + revision date + effective date + supersedes prior version; HKMA maintains module catalogue + version history. CONSULTATION PROCESS: HKMA issues CONSULTATION PAPERS + DRAFT MODULES + DISCUSSION PAPERS + INDUSTRY ENGAGEMENT; HKAB (Hong Kong Association of Banks) + DTCAHK + industry working groups + sectoral feedback + bilateral engagement with major AIs; comments + responses + amendments published. RECENT MAJOR MODULE UPDATES (2020-2025+): (a) OR-2 Operational Resilience (effective 2022 + ongoing transition); (b) TM-G-4 Public Cloud Services (recent + ongoing updates); (c) Climate Risk-related modules (CCM + Pillar 2 climate); (d) CG-5 Remuneration (periodic updates); (e) CR Credit Risk (Basel III implementation); (f) IR-1 IRRBB (Basel implementation); (g) TM-G-1 Technology Risk Management (revision in 2020 + ongoing); (h) various supervisory communications + circulars supplementing modules. SECTORAL ENGAGEMENT: HKMA + HKAB + DTC Association + Foreign Banks + Virtual Banks + industry-specific working groups + sectoral exercises + cyber wargames + tabletop exercises + supervisory communications + Quarterly Bulletins. RECENT HKMA PRIORITIES: climate + AI + virtual banking + tokenization + cybersecurity + operational resilience + recovery + resolution + ESG + sustainable finance + Greater Bay Area + HK-China + international + sectoral evolution.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.