All posts tagged "rolling bad apples"
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354FeatureHong Kong Mandatory Reference Checking Regime Now in Force
The regime requires banks to conduct mandatory reference checks to fill specified positions, to address the issue of 'rolling bad apples'.
May 4, 2023 -
628Big PictureBIS Paper Takes Stock of Individual Accountability Regimes
The paper introduces the concept of the "accountability stack", which presents a broad range of regulatory instruments and supervisory tools that target individual accountability.
March 9, 2023 -
5.0KFeatureHKMA Sets Timeline for Mandatory Reference Checking Regime
Banks have until 2 May 2023 to put in place the necessary internal controls, policies and procedures required for Phase 1 implementation of the MRC regime.
May 9, 2022 -
469Hong KongHKMA Urges Continued Momentum in Bank Culture Efforts
Culture is the "invisible glue" that holds a bank together and assumes an even more critical role during the pandemic, says the HKMA's Arthur Yuen.
September 9, 2021 -
2.1KMarket InfrastructureMAS to Expand Scope of Mandatory Reference Check Regime
MAS proposes to expand the scope of FIs and employees subject to the mandatory reference checking regime. FIs will have to maintain records for all employees.
May 17, 2021 -
1.3KEnforcementHKMA Adjusts Scope of Mandatory Reference Checking Regime
The HKMA has adjusted the scope of the regime, shortened the record retention requirement, and lengthened the time allowed to respond to an MRC request.
May 5, 2021 -
4.5KFeature
HKMA Proposes Mandatory Reference Checks to Stop Rolling Bad Apples
Under the scheme, prospective employees would be required to disclose employment records to recruiting AIs before a new employment relationship is established.
May 8, 2020 -
874Enforcement
Fostering Customer Trust in the Financial Industry: MAS
Regulators and FIs alike have an important part to play to build trust in the financial industry, MAS deputy managing director Ong Chong Tee said in a speech on Saturday.
November 18, 2019
