The SFC has recently clarified the way it will view senior management of licensed corporations (LCs). The new “Manager in Charge Regime” creates additional reporting obligations for LCs. The objective is to more easily identify those ultimately responsible for key areas within the LC and hold them accountable for the conduct and behavior of the firm. “Senior management” includes not only responsible officers of LCs but “Managers in Charge of Core Functions”. These individuals may or may not be licensed. The following course will provide information regarding the new Manager in Charge Regime in Hong Kong.
Highlights of the course include:
- Regulatory Framework and background on SFC circular of 16 December 2016 regarding measures for augmenting the accountability of senior management
- What is a “Manager in Charge” (MIC)?
- How to identify those who are or will be “MIC’s”
- Preparing for an MIC role
- Responsibilities of the board
- Reviewing organisational structures and reporting lines
- Standards of conduct and potential legal liabilities
- Key steps for compliance and implementation
- SFC’s approach to supervision and enforcement
To view our registration conditions click here.