PROPOSALS by the Hong Kong Society of Accountants to limit family domination of listed companies fly in the face of Asian traditions. But they would tighten regulatory control over Hong Kong's boardrooms and give welcome additional protection to minority shareholders. The proposals hardly spell the end of the Chinese family firm as we know it. Family members would still be permitted to make up half the voting members. And defining exactly who is, or is not, a relative among Hong Kong's extended families might be tough. Nevertheless, appointing a qualified accountant should help to keep boardroom business transparent and honest. So, too, should moves to require more frequent meetings and greater powers for auditors. The proposals have yet to be endorsed by either the society's full council or the Stock Exchange. But it would be a sad day for corporate governance if they were turned down. Hong Kong is trying to improve its international standing as a financial centre; these proposals are a step in the right direction.