Regulatory Alerts2017-10-16
Added · Updated
Management Accountability at Registered Institutions Annex 1: Frequently Asked Questions
The Hong Kong Monetary Authority issues this guidance to clarify expectations for Registered Institutions in identifying individuals principally responsible for regulated activities. Institutions must designate senior management, such as chief executives or approved directors, to oversee specific regulated businesses and functions, ensuring clear lines of accountability and fit-and-proper compliance. These designations must be formally reported to the HKMA and Securities and Futures Commission using prescribed forms and organizational charts by April 2018.
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