sfc responsible officer duties

Newly established PRC based Financial Institution in Hong Kong

IT/Computers - Hardware & Networking Grey Anderson Limited |

This is to ensure that an acquisition of an existing licensed corporation cannot be used as a means to avoid the assessment and vetting process that new corporate licence applicants must undergo. Other Roles Last 7 Days Responsible officer The ROs have the primary responsibility for a LC’s compliance with all applicable standards Masters/ Post Graduate Working for a reputable Investment Bank, well experienced in data centre operations Hong Kong This phenomenon was referred to as “backdoor licensing” in our Responsible officers must have sufficient authority to supervise the business of the regulated activity for which they are approved.

| Thus, it is unlikely that an individual will be considered to be fit and proper to be licensed to act for more than one licensed corporation, unless the licensed corporations are in the same corporate group or owned by the same controlling shareholders. Permanent Job

Posted: a month ago Where there are clear failings of internal controls, the Responsible Officer risks having his/her ability to act as an RO revoked by the SFC. Posted: 2 months ago | Highlights of the course include: Appointment of a responsible officer: Who is eligible and what requirements must be satisfied? The SFC may also enquire into the substantial shareholder’s source of funding and financial strength in order to assess the legitimacy of the funds and to confirm that any ultimate beneficial owners who are substantial shareholders have applied for approval.The SFC will assess any potential changes to the business plan and senior management of the licensed corporations after a change of ownership. Job Description : Last 30 Days Get notified when new jobs are posted Licensed corporations must inform the SFC of certain changes, including significant changes to their business plan and changes to their senior management, within seven business days.

| Intellectual curiosity, innovative thinking, ability to work on a team and a drive to succeed are all critical factors for anyone to be successful here. Q) Can a person be the Responsible Officer for a number of licensed corporations?Q) Can the SFC exercise its disciplinary powers against a Responsible Officer?The SFC has stated that whether they are to discipline a regulated person depends on the specific facts of each case and that they will take into account the individual’s apparent or actual authority in relation to the particular business and operations, his or her level of responsibility within the licensed corporation concerned, any supervisory duties he or she may perform, and the level of control or knowledge he or she may have concerning any failure by the corporation or persons under his supervision to follow the SFC’s Code of Conduct .The SFC can impose disciplinary sanctions of a civil nature, for example, licence revocation or suspension, pecuniary fine and reprimand.

What are the criteria for assessing his competence, if he is not a member of the board of directors?