Sleepless Summer Nights? HK Bank Accounts, Internal Controls and MIC Regime

Hong Kong Singapore China Japan Australia Other Markets Regulation

AIMA APAC invites you to join our webinar on 17 August 2021.

This webinar will address the recent SFC Circular to Licensed Corporations (LCs) on Operation of Bank Accounts. The circular requires all LCs to critically review their existing policies , procedures and internal controls to ensure full compliance by 3 January 2022. 

To provide proper context to the circular, we will cover the background to the SFC’s rules on internal controls:

  • What are the current internal control rules and where are they found?
  • What are the problems with them?
  • Enforcement actions involving breaches of internal controls

We will also address senior management accountability against the backdrop of the Managers-In- Charge (“MIC”) Regime:

  • Overview of MIC Regime
  • Recent trends and enforcement actions
  • How to manage the attendant increased regulatory risk to MICs with this new circular
Final AIMA Webinar _17 Aug 2021.pdf

A recording is available for replay here. 

Speakers:

  • Kher Sheng Lee, Managing Director, Co-Head of APAC and Deputy Global Head of Government Affairs, AIMA
  • Charlotte Robins, Partner, Allen & Overy
  • Philippa Allen, CEO, ComplianceAsia
  • Stuart Somer, Director, S2 Compliance Limited