HTSC (華泰證券股份有限公司), operating in Hong Kong under the same abbreviation, has approved and released its revised “Terms of Reference of the Committees of the Board of Directors.” The update outlines the composition, responsibilities, and procedures of five board committees, aiming to strengthen corporate governance and optimize the Board’s decision-making processes.

The revised document introduces clear guidelines for the Compliance and Risk Management Committee, Audit Committee, Development Strategy Committee, Nomination Committee, and Remuneration and Appraisal Committee. A majority of members in the Audit, Nomination, and Remuneration and Appraisal Committees must be independent non-executive directors responsible for oversight in areas such as internal control, risk assessment, and overall strategic planning.

The Compliance and Risk Management Committee approves overall compliance objectives and major decisions, while the Audit Committee supervises the financial reporting process and the internal and external audit work. The Development Strategy Committee focuses on short-to-long-term goals and investment strategies. The Nomination Committee reviews the structure and qualifications of directors and senior management candidates, and the Remuneration and Appraisal Committee is responsible for formulating fair compensation mechanisms and performance evaluations.

This updated set of Terms of Reference will come into effect following approval by the HTSC Board. It aims to enhance accountability and strategic alignment by ensuring each committee’s structure and duties accord with international best practices and relevant regulatory requirements.