HKEx Bolsters Risk Monitoring Framework
by Mary Swire, Lowtax.net, Hong Kong
09 March, 2015
Hong Kong Exchanges and Clearing Limited (HKEx) has resolved to establish a Risk Committee to oversee the overall risk management framework for the whole HKEx Group.
The Risk Committee will be introduced alongside HKEx's existing statutory Risk Management Committee, which focuses on cross-market risks in Hong Kong.
HKEx Chairman C K Chow remarked that the setting up of the Risk Committee is considered of importance, "given [HKEx's] strategic significance for Hong Kong and Mainland China, as well as the world's base metals industry [through its subsidiary, the London Metal Exchange], and taking into account the two new clearing houses within the group, OTC Clear and LME Clear."
"We have decided to further strengthen the HKEx Group's risk governance structure by establishing a committee to enhance oversight over the Group's enterprise-wide risk management," he said.
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