The Asian Corporate Governance Association (ACGA) warns that Hong Kong is running against global trends of increased transparency.
Carrie Lam, chief executive of Hong Kong's Legislative Council. Image: Yu Chun Christopher Wong/Shutterstock
Governance experts have revealed their opposition to reforms in Hong Kong that have seen the introduction of restricted access to the personal details of company directors.
The Asian Corporate Governance Association (ACGA) has sent an open letter to Hong Kong's Legislative Council and the secretary for financial services arguing that Hong Kong is running against global trends of increased transparency.
“Curtailing transparency in such a manner is an exceptionally regressive step for Hong Kong,” states the letter, which also complains that the reforms have been launched without public consultation.
The proposed rule changes were a
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