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Hong Kong Banks Against Proposed Changes to Hong Kong Company Records

Banks have come out against proposed changes to Hong Kong company records which would hide the home address and full ID numbers of directors and secretaries from public scrutiny. The Hong Kong Association of Banks raised the concerns in its submission on amendments to the Companies Ordinance.  Boey Wong, the association’s secretary, said the information should remain public.

The association, which represents licensed domestic and overseas banks, is a statutory body which advises the financial secretary on issues concerning the industry.  Wong said the association’s members see benefits in allowing public access to the residential addresses and identity card numbers of directors and other relevant individuals maintained at the Companies Registry.

However, the association also appreciated there were privacy concerns, she said: “The association hopes that the government will put forward a workable arrangement which will balance these different considerations.”

Source:  South China Morning Post

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