This initiative, including the introduction of the “Managers-In-Charge of Core Functions” (MICs) concept, aims to:-(a) add clarity as to which individuals should be regarded as members of the senior management of a licensed corporation, and heighten awareness of their accountability, regulatory obligations and potential liabilities;

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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"). Senior Manager Accountability (Global) Enabling learners to understand the regulatory landscape on a global scale by covering regulations in various jurisdictions such as: UK -SMCR — Senior Management Certification Regime, Hong Kong - MICR — Manager in Charge Regime, Australia: BEAR — Banking Executive Accountability Regime, Singapore: Proposed guidelines on individual accountability and 17 Oct 2017 Q2 : Does the MIC regime apply to temporary licensed corporations? A: The MIC regime set management. C. Managers-In-Charge of Core Functions Q10 : Can an MIC be located outside Hong Kong? 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.

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Red Flags in HK Managers in Charge Regime. By Samuel Riding, Regulation Asia. Published on 9th March 2017. Hong Kong Manager in Charge regime: Implications for HR Blog FSR and Corporate Crime notes. Herbert Smith Freehills LLP Hong Kong January 25 2017 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 MIC Regime holds individual senior managers of firms licensed by the SFC to account for compliance with regulatory standards.

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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

Hk manager in charge regime

senior managers are fully aware of their obligations under Hong Kong's regulatory regime. 10 Sep 2020 Outcome 1: Senior managers responsible for managing and and Conduct Rules, Hong Kong's Managers-in-Charge/Management Accountability Initiative Regime, and Australia's Banking Executive Accountability Regime. The need for senior management accountability is evident to well-run firms; Executive Accountability Regime), Hong Kong (Manager-in-Charge Regime),  11 Oct 2018 In June, Hang Seng Investment Management was fined HK$3m for its The SFC has also been leveraging on the manager-in-charge regime,  21 Aug 2020 An in-depth look into the new Hong Kong LPF regime opened by Alice Lyu, ComplianceAsia / Regional Director, HFA as moderator. You will  30 Nov 2016 Hong Kong's securities regulator plans to require financial firms, such plans to announce the so-called "managers in charge" regime, via an  Back in November 2018, the Hong Kong Securities and Futures Commission asset portfolios managers, fund distributors and trading platform operators Licensing and supervisory regime for platform operators Provide trading, clear 8 Jan 2020 HKEx Consults on Updating Listing Regime for Debt Issues to HKEx noted a number of internal control deficiencies, including: Mr. Ken Yiu Ka Lun, a former senior regulatory affairs manager of Hong Kong Television&nbs 10 Oct 2019 There is no territorial limit to the Senior Manager regime, so the regime by way of example in Hong Kong the Manager in Charge Regime and  One example of this is via the recent introduction of the Manager-in-charge (“MIC ”) regime, used to clarify the accountability of the senior management of licensed   29 Nov 2020 U.S. President Donald Trump imposed the sanctions in August on Chinese and Hong Kong officials including Lam; Xia Baolong, director of the  30 Oct 2018 Whilst in the UK we have the SM&CR, in Hong Kong it is the Manager In Charge Regime (MICR) and Australia has the Banking Executive  Editorial management, design and printing Bamboo Business The Swedish Chambers of Commerce in Hong Kong and China In reality, young Red Guards seemed to be in charge, and Mao's Little Red Book was their Bible.

Hk manager in charge regime

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Manager-in Charge Persons appointed by LC (either alone or with others) to have principal reponsibility for a Core Can be an employee or non-employee/ based in HK or overseas Specifically, Manager-in-Charge or MIC is the "new title" accorded to individuals who are appointed by an LC to be In practice the introduction of the MIC Regime represents a significant regulatory shift, in which the SFC aims to enhance accountability of senior management of LCs in Hong Kong. Given the complexity of the issues involved and the tight implementation timeframe, financial services firms are set to face challenges in meeting the new regulatory requirements under the MIC Regime.
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HKMA continues its focus on corporate governance with circular to harmonise section 72B with "manager in charge" regime 17 October 2017 | Hong Kong Legal Briefings – By Hannah Cassidy, Jeremy Birch and Gillian McKenzie

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 . The licensing and registration of persons operating in Hong Kong's securities and futures markets and non-bank  8 Jun 2018 Regime), Hong Kong its MCR and MAI (Manager-in-Charge Regime and To this alphabet soup of accountability regimes will be added  29 Apr 2020 regime in place — The Manager-in-Charge Regime. Our article covering this topic addresses what the Hong Kong Securities and.


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13 Apr 2017 Futures Commission's (SFC's) 'Managers in Charge Regime' (MICR) for all to strengthen senior management accountability in Hong Kong.

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. 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). Manager-in Charge Persons appointed by LC (either alone or with others) to have principal reponsibility for a Core Can be an employee or non-employee/ based in HK or overseas Specifically, Manager-in-Charge or MIC is the "new title" accorded to individuals who are appointed by an LC to be 2016-12-19 2017-04-07 The Manager-In-Charge (MIC) regime was fully implemented in October 2017. Amongst others, it required the Licensed Corporations (LCs) to appoint MICs across 8 core functions, and submit to the SFC the details of each MIC, the governance structure and their reporting lines. 2017-04-01 Hong Kong's Manager in Charge regime The implications of the Hong Kong Securities and Futures Commission’s Manager in Charge regime and concludes with key points for licensed corporations. 29 September 2017 Publication Hong Kong: Manager-In-Charge regime comes into force.

The Manager-in-Charge Regime: Ruffling feathers in the year of the Rooster? An Overview INTRODUCTION 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

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Join host Sarah  In 1618 King Christian IV of Denmark put him in charge of the Glückstadt mint, but Being officially Catholics, they were now persecuted by the new Protestant regime.