The Hong Kong Securities and Futures Commission’s “Manager in Charge” regime, which aims to heighten senior management accountability within licensed corporations, came into effect in 2017. In a recent disciplinary action, the SFC has reprimanded and fined a licensed corporation HKD 1.75 million and banned its former MIC for Compliance for two months. The Subject LC is licensed under the Hong Kong Securities and Futures Ordinance to carry on Type 9 (Asset management) regulated activity.
Bryan Ng is a partner in Baker McKenzie's Hong Kong office and a member of the Firm's Dispute Resolution Group. He has written articles and delivered trainings and seminars on topical issues including regulatory enforcement matters.