We consider the implications of the Hong Kong SFC’s recent suspension of a responsible officer (RO) and manager-in-charge (MIC) following its public reprimand and fine of Fulbright Securities Limited (Fulbright) for internal...more
The MAS is proposing to require financial institutions to clearly identify and delineate the responsibilities of senior management and of employees in material risk functions. The proposed "Guidelines on Individual...more
Senior management accountability has been a priority of global financial services conduct regulators in recent years.
One need only look to a speech on 19 January 2017 by Mark Steward, director of enforcement and market...more
On 16 December 2016, the Securities and Futures Commission (SFC) issued a Circular to Licensed Corporations entitled Augmenting the Accountability of Senior Management (Circular).
At the heart of the Circular was the...more
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...more