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2016-12-20 Hong Kong’s new Manager-In-Charge regime comes into effect on 18 April 2017. This introduces measures to heighten the accountability of the senior management at licensed corporations and increase awareness of their obligations. The circular effectively introduces a Hong Kong manager in charge regime. Initially all firms will need to provide the SFC with information on their organizational structure and managers from 18th April 2017 to … The new Securities and Futures Commission (SFC) Manager-In-Charge regime will come into force on 18 April 2017.

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The Manager-In-Charge Regime impacts all SFC licensed corporations and their senior management in Hong Kong. The Introduction of the Manager-In-Charge regime in Hong Kong. Print Twitter LinkedIn.

Hk manager in charge regime

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Hk manager in charge regime

These encompass both front office and mid/back office roles, and there must be at least one MIC per Core Function. The circular effectively introduces a Hong Kong manager in charge regime. Initially all firms will need to provide the SFC with information on their organizational structure and managers from 18th April 2017 to 17th July 2017. The new Securities and Futures Commission (SFC) Manager-In-Charge regime will come into force on 18 April 2017. The regime will apply to all licensed… The launch of the manager-in-charge ("MIC") regime in Hong Kong in two weeks has sparked concerns about whether other Asian jurisdictions will introduce similar rules. The MIC regime further demonstrates that senior management accountability ranks high on regulators' agenda. The Introduction of the Manager-In-Charge regime in Hong Kong Print Twitter LinkedIn On 16 December 2016, the SFC issued a "Circular to Licensed Corporations Regarding Measures for Augmenting the Accountability of Senior Management" ("Circular") to introduce the "Managers-In-Charge of Core Functions" ("MICs") regime, accompanied by 41 frequently asked questions ("FAQs").
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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 ASIFMA, the financial industry’s leading regional trade association, has issued the following statement in response to the Hong Kong Securities & Futures Commission (SFC) circular on its new Manager in Charge regime, issued today. Herbert Smith Freehills acted as legal adviser to ASIFMA’s working group on the Manager in Charge initiative. In Hong Kong, after concerted reminders from the Securities and Futures Commission (SFC) and other The SFC’s new “Managers-in-Charge” Regime: it’s getting tougher at the top 32 DUFF & PHELPS – GRO VIEWPOINT 2017. exposure.


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11 Jan 2017 Hong Kong - SFC Introduces New “Managers In Charge” Regime To Augment Accountability Of Senior Management Of Licensed corporations. HK$780. Hong Kong Securities and Futures Commission (SFC) introduced Manager-In-Charge regime in April 2017 to all SFC licensed  18 May 2018 and Futures Commission (SFC) provides an update on the implementation of the Manager-in-Charge (MIC) regime and announces that it will  the following statement in response to the Hong Kong Securities & Futures Commission (SFC) circular on its new Manager in Charge regime: The industry  This article provides an analysis of the implications of Hong Kong Securities and Futures Commission's "Manager in Charge" regime. Hong Kong SFC unveils senior management disclosure rules that firms must assign a Manager-in-Charge (MIC) to each of eight, core business functions: are more closely aligned with its responsible officer and regulated persons regi Next year, in the UK, the regime will be extended to investment firms and asset managers. In Hong Kong, the SFC has introduced its new Managers-in-Charge  24 Apr 2017 The SFC is the first Asian regulator to adopt a regime to increase the scrutiny of senior management and make them more accountable in Hong  10 Sep 2018 Last October, Hong Kong implemented its Manager-in-Charge (MIC) The Senior Managers Regime creates direct accountability to the  Managers In Charge Of Core Functions .

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Royal costs, the Issuer charges brokerage fees and manager with EUR 254.5 billion in assets under management. B.9 Decree 217/2008, of 15 February, on the legal regime applicable to investment.