Hong Kong regulator backs official who referred son to JP Morgan

The Hong Kong Monetary Authority (HKMA) has backed one of its officials, Peter Pang, following revelations in the Wall Street Journal that he referred his son for a summer internship in 2006 at JP Morgan Chase & Co; the bank is presently under investigation for hiring relatives of Chinese business leaders.  "Mr Pang only sent the CV. Other than that, he didn't do anything to affect the hiring process and decision", said HKMA CEO, Norman Chan, adding, however, that it would now "consider internally revising rules and details on what can be done and what needs to be avoided".

Peter Pang Sing-tong, Deputy Chief Executive of Hong Kong Monetary Authority (HKMA) at his office in the territory as the HKMA said it will review conflict of interest rules after he sent his son’s resume to JP Morgan about a summer internship programme almost a decade ago. Photo: K.Y. Cheng