Best Practices Subcommittee
The objective of the Best Practices Subcommittee is to promote of best practice standards for the trust industry in Hong Kong on an ongoing and evolving basis. It aims to assist members in the education of and practical application of these best practices through the issuance of Best Practice Principles and Guidelines. These Principles and Guidelines will help raise standards in our industry and provide better credibility for Hong Kong trust practitioners.
| 2024 | |
|---|---|
| Co-Chairman: | Fan Choi / Loretta Lam Ma |
| Members: |
Matthew Au |
There are 9 established principles for trustees’ code of conduct. These are:
Guiding Principles
- Act in Good Faith
- Act with Prudence and Care
- Act with Skill and Diligence
- Act with Integrity and Independence
- Maintain Confidentiality
- Comply with applicable laws and regulations
- Communicate Effectively in a Transparent Manner
- Promote the Highest Standards of Governance
- Act in accordance with the Scheme Objects and Policies
The codes are divided into four codes covering trustees conduct in regard to corporate, pension, private and charitable trusts. The Subcommittee also provides guidance notes and practice guidelines in regard to the guiding principles which are specific to each of these four areas of trustee activity.