HSBC 2015 Annual Report Download - page 261

HSBC HOLDINGS PLC
259
Strategic Report Financial Review Corporate Governance Financial Statements Shareholder Information
In accordance with the Rules Governing the Listing of
Securities on the Stock Exchange of Hong Kong Limited,
each non-executive Director determined by the Board to
be independent has provided an annual confirmation of his
or her independence.
Information and support
The Board regularly reviews reports on performance
against financial and other strategic objectives, business
developments and investor and external relations. The
chairmen of Board committees report to each meeting of
the Board on the activities of the committees since the
previous Board meeting. The Board receives regular reports
and presentations on strategy and developments in the
global businesses and principal geographical areas. Regular
reports are also provided on the Group’s risk appetite, top
and emerging risks, risk management, credit exposures and
the Group’s loan portfolio, asset and liability management,
liquidity, litigation, financial and regulatory compliance and
reputational issues.
The Directors have free and open contact with management
at all levels. When attending Board offsite meetings and
when travelling for other reasons, non-executive Directors
are encouraged to take opportunities to visit local business
operations at first hand and to meet local management.
Role of the Group Company Secretary
All Directors have access to the advice and services of
the Group Company Secretary, who is responsible to
the Board for ensuring that Board procedures and all
applicable rules and regulations are complied with.
Under the direction of the Group Chairman, the Group
Company Secretary’s responsibilities include ensuring good
information flows within the Board and its committees and
between senior management and non-executive Directors,
as well as facilitating induction and assisting with
professional development as required.
The Group Company Secretary is responsible for advising
the Board on corporate governance matters.
The agenda and supporting papers are distributed in
advance of all Board and Board committee meetings to
allow time for appropriate review and to facilitate full
discussion at the meetings. All Directors have full and
timely access to all relevant information and may take
independent professional advice if necessary at HSBC
Holdings’ expense.
Induction
Formal, tailored induction programmes are arranged for
newly appointed Directors. The programmes are based on
an individual Director’s needs and vary according to the
skills and experience of each Director. Typical induction
programmes consist of a series of meetings with other
Directors and senior executives to enable new Directors to
familiarise themselves with the business. Directors also
receive comprehensive guidance from the Group Company
Secretary on Directors’ duties and liabilities.
Training and development
Training and development is provided for Directors.
Executive Directors develop and refresh their skills and
knowledge through day-to-day interactions and briefings
with senior management of the Group’s businesses and
functions. Non-executive Directors have access to internal
training and development resources and personalised
training is provided, where necessary. The Chairman, with
support from the Group Company Secretary, regularly
reviews the training and development of each Director.
During the year, Directors received training on the following
topics:
• The Volcker Rule covering the investment activities of
certain US banks;
• UK Financial Services (Banking Reform) Act 2014
including the Senior Managers’ Regime; and
• the changing financial and regulatory reporting
landscape.
The table below shows a summary of training and
development undertaken by each Director during 2015.