Hong Kong bankers to retain right to access corporate registry: report
A new government rule plans to tighten public access to company director’s personal info.
Hong Kong bankers and lawyers will be able to retain access to the city’s companies registry under proposed exemptions to plans to tighten public access to personal information of company directors, reports Reuters, based on a statement made by Secretary of Financial Services Christopher Hui.
Speaking to a RTHK radio programme, Hui said that lawyers, bankers and accountants could now apply to the company registry to gain access to documents for work purposes.
Dealmakers working through the due diligence phase of corporate transactions regularly consult the database to research and verify the history and identities of executives and directors.
"But the premise is that they have to be really doing relevant checks and work, because we need to strike a balance and protect privacy," Hui was quoted as saying on the RTHK website.
Business and governance experts have criticised a government plan to restrict access to the personal information of company directors, warning that it will reduce transparency in Hong Kong’s corporate sector.
Here’s more from Reuters.