On December 16, 2016, the Securities and Futures Commission of Hong Kong issued a circular to all licensed corporations in Hong Kong, which introduced measures to heighten the accountability of the senior management at licensed corporations and increase awareness of the obligations of senior management under the current regulatory regime (the Manager-in-Charge Regime). An MIC can be located in Hong Kong or outside Hong Kong. In either case, he or she should be properly accountable to the licensed corporation. It is the responsibility of the corporation’s board of directors to determine the proper delegation of authority and responsibilities among its senior management (including MICs). Following the end of a 6-month transition period, the Manager-In-Charge (MIC) regime introduced by the Securities and Futures Commission (SFC) is now fully implemented, starting from 17 October 2017.The regime seeks to heighten the accountability of senior management at licensed corporations and to promote greater awareness of their obligations. The Hong Kong Securities and Futures Commission (SFC) has issued its “Circular to Licensed Corporations Regarding Measures for Augmenting the Accountability of Senior Management” which introduces additional specific requirements and expectations of the SFC regarding senior management personnel of licensed corporations (referred to below as “the Managers-in-Charge Circular”). A recently announced regime for mapping managers in charge of financial firms' regulated activities in HongKong will be a burden to locally-based compliance and legal staff, sources said. The Securities and Futures Commission ("SFC") said it wanted to hold individuals in the industry more accountable but critics said the lack of upfront industry input and scant details would Read Allen & Overy's latest blog post on the Hong Kong 'Managers In Charge' regime that has been announced by the SFC and whether this new regime is likely to result in a change in the SFC's approach towards senior management in financial institutions.
An MIC can be located in Hong Kong or outside Hong Kong. In either case, he or she should be properly accountable to the licensed corporation. It is the responsibility of the corporation’s board of directors to determine the proper delegation of authority and responsibilities among its senior management (including MICs). Following the end of a 6-month transition period, the Manager-In-Charge (MIC) regime introduced by the Securities and Futures Commission (SFC) is now fully implemented, starting from 17 October 2017.The regime seeks to heighten the accountability of senior management at licensed corporations and to promote greater awareness of their obligations. The Hong Kong Securities and Futures Commission (SFC) has issued its “Circular to Licensed Corporations Regarding Measures for Augmenting the Accountability of Senior Management” which introduces additional specific requirements and expectations of the SFC regarding senior management personnel of licensed corporations (referred to below as “the Managers-in-Charge Circular”). A recently announced regime for mapping managers in charge of financial firms' regulated activities in HongKong will be a burden to locally-based compliance and legal staff, sources said. The Securities and Futures Commission ("SFC") said it wanted to hold individuals in the industry more accountable but critics said the lack of upfront industry input and scant details would
Managers In Charge Of Core Functions . The licensing and registration of persons operating in Hong Kong's securities and futures markets and non-bank The SFO is administered by the Securities and Futures Commission. (the 'SFC') . 2. 19 Jan 2017 The Securities and Futures Commission (SFC) issued a circular[1] to licensed its Managers-in-Charge of Core Functions (MICs). senior managers are fully aware of their obligations under Hong Kong's regulatory regime. HK$780. Hong Kong Securities and Futures Commission (SFC) introduced Manager-In-Charge regime in April 2017 to all SFC licensed 1 Mar 2017 Hong Kong. +852 3896 2645. On 16 December 2016, the Securities and Futures Commission (“SFC”) published, in a circular. 14 Jun 2019 local regulatory framework for funds, asset managers and service of Hong Kong's securities and futures markets for the Charge regime. The Securities and Futures Commission (SFC) has been pursuing initiatives to regulatory regime generally requires their Hong Kong-based fund managers to be to pay annual fees, to submit annual returns and to manage risks prudently.
The Licensing Examination for Securities and Futures Intermediaries (LE), a practical Ordinance provides for the implementation of the single licensing regime with 10 The LEs have been approved by the Securities and Futures Commission (SFC) Type 9 - Asset management Examination Syllabus, Details and Fee. The Securities and Futures Commission (SFC) of Hong Kong is the independent statutory body charged with regulating the securities and futures markets in
Changes to the Hong Kong insurance regime herald a new era of risk Manager -in-Charge (MIC) regime introduced by the Securities and Futures Commission