The Board plays a central supporting and supervisory role in HKEX’s corporate governance structure, provides leadership and guidance to the Group’s activities, and oversees the execution of the Group’s business strategies. In fulfilling HKEX’s
Public Responsibilities and
Corporate Responsibilities, the Board leads and supervises the Group’s management to act in the interest of the public as well as its shareholders, but in case of conflict, the former shall prevail. The Board’s roles and functions are set out clearly in the
Board’s terms of reference which are reviewed regularly and incorporated in the
Director's Handbook. Specific matters reserved for the Board’s consideration and decision are –
- To determine the Group’s objectives, missions, strategies, policies and business plans and monitor their implementation
- To set appropriate policies to manage risks in pursuit of the Group’s strategic objectives
- To ensure the integrity of the Group’s accounting and financial reporting system and compliance with the relevant laws and standards, and that appropriate internal control systems are in place, including systems for risk management, as well as financial and operational control
- To monitor and control the Group’s operations and financial performance through the determination of the annual budget in particular the capital expenditure budget and annual operating plan
- To ensure a transparent Board nomination and election process
- To appoint key senior executives and oversee succession planning
- To ensure timely and accurate disclosure to and communications with stakeholders
- To monitor the effectiveness of the Group’s practices in corporate governance and CSR, and approve corporate governance and CSR policies and practices
- To oversee the effectiveness of the compensation structure and to align interests of the employees with that of HKEX
- To ensure the adequacy of resources, and staff qualifications and experience of the Group’s accounting and financial reporting function