HONG KONG Trends and Developments Contributed by: Gareth Hughes, Emily Lam, Philip Rohlik and Tiffany Wu, Debevoise & Plimpton LLP
Banking Industry Integrity Charter with the HKMA and HKAB Although not an operation, the ICAC also launched the Banking Industry Integrity Char - ter this year, a collaborative project with the Hong Kong Monetary Authority and Hong Kong Association of Banks. The Integrity Charter aims to combat and prevent corruption proactively, assist banks to enhance their integrity manage - ment system and continuously strengthen the corruption prevention awareness and capabili - ties of banks. The Integrity Charter will be man - datory for all licensed banks operating in Hong Kong. Some of the requirements under the Integrity Charter for participating banks are the promotion of a sound bank culture, the estab - lishment of a code of conduct, the employment of an integrity officer to assist in implementing good governance and the provision of integrity training to staff, as well as the requirement to report suspected corruption, fraud and other illicit activities to the ICAC or other law enforce - ment agencies promptly.
exchange. It is expected that there will be more similar programmes on offer in future for partici - pants to share the unique challenges of anti-graft work in their jurisdictions and exchange ideas for best practices and anti-corruption ideas. The Academy is another milestone in Hong Kong’s unwavering efforts in leading internation - al anti-graft collaboration and continuous devel - opment. Through ongoing training, research and experience-sharing – and fostering closer co- operation with international graft fighters – the Academy is set to become a pioneer in local and global anti-corruption initiatives, which will help reinforce Hong Kong’s status as a leading anti- corruption centre.
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