Tackling rolling bad apples
Phase 2 of HKMA’s Mandatory Reference Checking Scheme · In July 2025, the Hong Kong Monetary Authority (HKMA) announced Phase 2 of the Mandatory Reference Checking (MRC) Scheme, which was implemented on 30 September 2025. Alan Au, Executive Director (Banking Conduct), HKMA, explains the policy thinking, overseas touchpoints, lessons from Phase 1 and how governance professionals can strengthen culture and conduct across financial institutions.
Wednesday | 19 November 2025