"Each corporate corruption and fraud scam impairs the interests of investors and the confidence of market shareholders, and erodes Hong Kong's leading position as an international financial hub," Dr Timothy Tong, ICAC Commissioner, remarked at the Conference on Corporate Governance in the Financial Sector held on 8 December 2008.
Jointly organised by the Independent Commission Against Corruption, HKSAR (ICAC), the Ministry of Supervision, PRC (MOS) and the Commission Against Corruption, Macao (CCAC), with the support of thirteen local regulatory bodies, professional bodies and major chambers of commerce, the Conference held on 8 December 2008 aimed to examine the topical issue of ethical governance in the financial sector amidst the recent "financial tsunami". It was well attended by around 350 corporate directors and senior executives of listed companies, professionals and delegates of the three co-organisers.
Comprising an opening ceremony, a keynote address, an expert panel discussion, a luncheon, a video show, group discussions and a report back session cum open forum, the Conference was indeed a sequel to the Centre's 2007 Directors' Forum. We had invited Professor the Honourable K C Chan, SBS, JP, Secretary for Financial Services and the Treasury, Mr Yao Zengke, Vice Minister of Supervision (PRC) and The Honourable John Tsang Chun-wah, JP, Financial Secretary to deliver the inauguration speech, keynote address and luncheon speech respectively. The Centre's newly produced video "Boardroom Agenda", focusing on different aspects of ethical challenges facing company directors, was shown to trigger off discussions. Participants found the Conference interactive, insightful and thought-provoking.
The Centre's new product entitled "A Toolkit on Directors' Ethics", together with another corruption prevention guidebook for listed companies, were also launched by Dr Tong at the end of the Conference to help company directors practise personal governance and strengthen their corporations' internal controls.
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