2017-01-25 · Hong Kong Manager in Charge regime: Implications for HR. Categories. This post is part of the following categories: Asia. 25 January, 2017 . On 16 December

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SFC fully implements Manager-In-Charge regime. The Securities and Futures Commission (SFC) today announced the full implementation of the Manager-In-Charge (MIC) regime (Note 1) following a six-month transition period which ended on 16 October 2017. During the transition period, about 10,000 individuals were appointed by licensed corporations as Hong Kong: Manager-In-Charge regime comes into force. 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.

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While the MIC regime was not intended by the SFC to be an enforcement tool, the SFC’s Enforcement Division has investigated whether certain MICs have appropriately fulfilled their obligations in supervising regulated activities within their Web site created using create-react-app 26 January 2017, Investment Funds, Legal Alert, by Isabella Wong, Scott Carnachan. On 16 December 2016, the Hong Kong Securities and Futures Commission ( SFC) introduced its new Manager-In-Charge of Core Functions ( MIC) regime, with details set out in its Circular Regarding Measures for Augmenting the Accountability of Senior Management ( Circular) and a related series of 40 Frequently Asked Questions ( FAQs ). Hong Kong: Manager-In-Charge regime comes into force. 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.

Accountability Regime (BEAR) U. K. Australia. The regulator’s aspiration is to make senior staff individually .

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A: An MIC can be  15 Jul 2017 The SFC's new Manager-in- Charge ("MIC") Regime requires SFC as a result of the operation of Hong Kong legal principles, D&O Insurance  The MIC regime will require LCs to undertake a substantial amount of work in a short circular introduces the new Managers-In-Charge (MIC) initiatives to heighten the 2017 KPMG, a Hong Kong partnership and a member firm of the KPM 13 Jun 2018 Hong Kong's Securities and Futures Commission (SFC) has published its first substantive review of progress in the Manager-in-Charge regime  13 Apr 2017 Futures Commission's (SFC's) 'Managers in Charge Regime' (MICR) for all to strengthen senior management accountability in Hong Kong. 11 Jan 2017 Hong Kong - SFC Introduces New “Managers In Charge” Regime To Augment Accountability Of Senior Management Of Licensed corporations. HK$780.

Hk manager in charge regime

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Hong Kong's securities regulator plans to require financial firms, such as brokers and hedge funds, to disclose which of its managers are responsible for the day-to-day running of regulated On 16 October 2017, the Hong Kong Monetary Authority (“HKMA”) issued a Circular, a set of Frequently Asked Questions (“FAQs”) and an Appendix (together the “Guidance”) setting out its expectations in relation to management accountability at Registered Institutions (“RIs”) for conducting or supervising the conduct of businesses that constitute regulated activities (“RAs”). In Hong Kong, after concerted The SFC’s new “Managers-in-Charge” Regime: it’s getting tougher at the top 32 DUFF & PHELPS – GRO VIEWPOINT 2017. exposure.

The regime captures approximately 10,000 senior individuals responsible for managing core functions within financial services businesses supervised by the Securities and Futures Commission.
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Hk manager in charge regime

Published on 9th March 2017. July deadline looming large over financial institutions and their service providers. To continue reading Sign in.

The implications of the Hong Kong Securities and Futures Commission’s Manager in Charge regime and concludes with key points for licensed corporations.
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27 January, 2017. On 16 December 2016, the Hong Kong Securities and Futures Commission (SFC) introduced its new Manager-In-Charge of Core Functions (MIC) regime, with details set out in its Circular Regarding Measures for Augmenting the Accountability of Senior Management (Circular) and a related series of 40 Frequently Asked Questions (FAQs).

On 16 December 2016, the Securities and Futures Commission (SFC) announced the introduction of a Manager-in- Charge initiative (MIC Regime) aimed at increasing the accountability of the senior management of Hong Kong licensed corporations. 1 Red Flags in HK Managers in Charge Regime. By Samuel Riding, Regulation Asia. Published on 9th March 2017. SFC introduces manager-in-charge regime to heighten senior management accountability 19 December 2016. On 16 December 2016, the Securities and Futures Commission (SFC) announced it was taking steps to enhance the senior management regime of licensed corporations.

To continue reading Sign in. Password * Remember me. Lost your password? **If you were a … Hong Kong Manager in Charge regime: Implications for HR Blog FSR and Corporate Crime notes. Herbert Smith Freehills LLP Hong Kong January 25 2017 2017-10-19 In addition, although the Guidance does not refer to the approval of a formal document setting out the management structure of the corporation in the way that is required under the SFC’s Managers in Charge regime, it is likely that the corporate governance document which is already required under paragraph 2.5.3 of SPM module CG-1 will need to be refreshed to ensure that it reflects the 2018-05-21 managers (or “section 72B managers”) for the businessesand functions listed in the Fourteenth Schedule to the BO. It is however not a current practice to inform the HKMA of the businesses overseen by individual alternate chief executives (ACEs) or directors approved under section 711, while chief Oversight February 2018 - Hong Kong's Manager in Charge regime.