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

2019-10-25 · Dentons Hong Kong - Update on Manager-in-Charge Regime Update on Manager-in-Charge Regime October 25, 2019 The Manager-in-Charge (“MIC”) regime was fully implemented by the Securities and Futures Commission (“SFC”) on 17 October 2017 to promote proper conduct and increase awareness of individual responsibility and accountability.

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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

The overall aim of this eCourse is to ensure all the licensed corporations (LC) understand the Manager-In-Charge (MIC) regime requirements and carried out the procedures as stated in the Securities and Futures Commission (SFC)’s circulars. Hong Kong Securities and Futures Commission (SFC) introduced Manager-In-Charge regime in April 2017 to all SFC licensed corporations in Hong Kong.

18 Jul 2019 the Hong Kong SFC's Manager in Charge Regime, the Hong Kong Senior managers who have responsibility for the management and

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"). 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. 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.

For example, heads of risk The Introduction of the Manager-In-Charge regime in Hong Kong Regulatory; 27 April While some of these overseas MICs may not be comfortable with being regulated under the Hong Kong regime, it is expected that some firms may switch responsibilities to Hong Kong-based MICs or fill the roles locally. The MIC Regime, effective from 18 April 2017, requires every licensed corporation to nominate (and disclose to the SFC) at least one “manager-in-charge” (MIC) for each of eight designated “core functions”, including the licensed corporation’s key business lines, comprising each of the activities for which the licensed corporation is licensed by the SFC, operational controls, risk Manager-in-Charge Regime (MICR) Hong Kong. Banking Executive . Accountability Regime (BEAR) U. K. Australia. The regulator’s aspiration is to make senior staff individually .
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exposure. The SFC's new "Managers-in-Charge" Regime: It's Getting Tougher at the Top 1.
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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.

Hong Kong Securities and Futures Commission (SFC) introduced Manager-In-Charge regime in April 2017 to all SFC licensed corporations in Hong Kong.

Accountability Regime), Hong Kong (the Manager-in-Charge regime), Singapore (proposed guidelines on individual accountability and conduct), the UK (the Senior Managers and Certifcation Regime, which is being rolled out to almost all regulated frms), the US (the …

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. 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 . 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.

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