Following the HKMA’s 21 April 2021 circular highlighting the additional guidance issued by the Basel Committee on Banking Supervision (BCBS) on 31 March 2021, namely the Principles for Operational Resilience (POR) and the Revised Principles for Sound Management of Operational Risk (Revised PSMOR), the HKMA launched a consultation on 22 December 2021 on a new
