Hong kong securities and futures commission’s managers-in-charge regime

The Securities and Futures Ordinance, Cap. 571 (“the SFO”) was enacted in March 2002 aiming to consolidate and modernize the 10 existing ordinances regulating the securities and futures market. The Securities and Futures Commission has proposed a number of rules on fund houses and their custodians to address risks posed by financial innovation and strengthen regulation in Hong Kong’s

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. 2 Jan 2020 Hong Kong's Securities and Futures Commission (SFC) slaps the asset and fined Fidelity Investment Management (Hong Kong) HK$3.5m ($450,000) for changes to Hong Kong's open-ended fund companies (OFC) regime. to private funds would meet complaints that both the fees charged by  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 

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.

What is the manager in charge regime? Hong Kong’s Securities and Futures Commission (SFC) introduced the manager in charge (MIC) regime to increase senior management accountability for SFC-licensed corporations, of which there are more than 2,000 in the region. Download Full Version in PDF. Hong Kong's Securities and Futures Commission (SFC) has issued a consultation paper proposing to create a new regulatory regime for depositaries of SFC-authorised collective investment schemes (CIS). Responses to the consultation are due on 31 December 2019. 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 Hong Kong's securities regulator, the Securities and Futures Commission (SFC), has released an updated regulatory framework for digital asset fund managers. Th 1. INTRODUCTION. The licensing and registration of persons operating in Hong Kong’s securities and futures markets and non-bank retail leveraged foreign exchange market is dealt with in Part V of the Securities and Futures Ordinance (the ‘SFO’) which came into effect on 1 April 2003. The Securities and Futures Ordinance, Cap. 571 (“the SFO”) was enacted in March 2002 aiming to consolidate and modernize the 10 existing ordinances regulating the securities and futures market. The Securities and Futures Commission has proposed a number of rules on fund houses and their custodians to address risks posed by financial innovation and strengthen regulation in Hong Kong’s

This month sees the implementation of the Securities and Futures Commission's (SFC's) 'Managers in Charge Regime' (MICR) for all licensed corporations. Veronique Marquis and Catriona Kellas, of Eversheds, look at the compliance implications for organisations caught by the MICR and the wider implications of the SFC's intention to strengthen senior management accountability in Hong Kong. On 16

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 MICs responsible for managing important 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

31 Mar 2017 In Hong Kong, after concerted reminders from the Securities and Futures Commission (SFC) and other regulators that senior management of  7 Mar 2017 awareness of senior management obligations under the current regulatory regime. In addition, their Managers-In-Charge of the overall management types of licences issued by Securities and Futures Commission (“SFC”) as by the Hong Kong Monetary Authority as well as as licensed companies  1 Nov 2019 Yesterday, the Hong Kong Securities and Futures Commission (SFC) the requirement to designate two Managers-in-Charge (MICs) as  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 MICs responsible for managing important 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.

18 Oct 2017 Following the end of a 6-month transition period, the Manager-In-Charge (MIC) regime introduced by the Securities and Futures Commission 

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. This month sees the implementation of the Securities and Futures Commission's (SFC's) 'Managers in Charge Regime' (MICR) for all licensed corporations. Veronique Marquis and Catriona Kellas, of Eversheds, look at the compliance implications for organisations caught by the MICR and the wider implications of the SFC's intention to strengthen senior management accountability in Hong Kong. On 16

The Securities and Futures Commission (SFC) today issued a circular to all licensed corporations to introduce measures to heighten the accountability of the senior management of these firms (Note 1) and to promote awareness of senior management obligations under the current regulatory regime (Note 2). be more than one person responsible for a function. The Managers-in-Charge could also be based outside of Hong Kong. As the SFC often emphasizes, it does not prescribe a one-size-fit-all organizational structure, Hong Kong Securities & Futures Market Regulator introduces Managers-in-Charge regime What is the manager in charge regime? Hong Kong’s Securities and Futures Commission (SFC) introduced the manager in charge (MIC) regime to increase senior management accountability for SFC-licensed corporations, of which there are more than 2,000 in the region. Download Full Version in PDF. Hong Kong's Securities and Futures Commission (SFC) has issued a consultation paper proposing to create a new regulatory regime for depositaries of SFC-authorised collective investment schemes (CIS). Responses to the consultation are due on 31 December 2019. 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 Hong Kong's securities regulator, the Securities and Futures Commission (SFC), has released an updated regulatory framework for digital asset fund managers. Th 1. INTRODUCTION. The licensing and registration of persons operating in Hong Kong’s securities and futures markets and non-bank retail leveraged foreign exchange market is dealt with in Part V of the Securities and Futures Ordinance (the ‘SFO’) which came into effect on 1 April 2003.