HKMA seeks right to approve senior bank staff

Hong Kong's quasi-central bank Monday proposed a regulatory change which would give it the power to approve the appointment of senior management at the city's banks.

In a briefing to the Legislative Council Monday, the Hong Kong Monetary Authority said the Banking Ordinance should be amended to enable the HKMA to approve the appointments of senior managers by banks authorised here.

Currently, people wishing to become directors or chief executives of banks must get the HKMA's consent, but this

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