{"id":5232,"date":"2017-10-18T16:31:49","date_gmt":"2017-10-18T08:31:49","guid":{"rendered":"https:\/\/www.tannerdewitt.com\/sfc-announces-full-roll-manager-charge-regime\/"},"modified":"2017-10-18T16:31:49","modified_gmt":"2017-10-18T08:31:49","slug":"sfc-announces-full-roll-manager-charge-regime","status":"publish","type":"post","link":"https:\/\/www.tannerdewitt.com\/zh-hans\/sfc-announces-full-roll-manager-charge-regime\/","title":{"rendered":"SFC announces full roll-out of Manager-In-Charge regime"},"content":{"rendered":"<p style=\"text-align: justify;\">In January this year, we wrote about <a href=\"\/?p=3609\">upcoming changes to the Manager-In-Charge Regime<\/a>. It was announced then that Managers-In-Charge (MIC) of eight core functions should have applied for approval to become Responsible Officers (ROs) by 16 October 2017. In addition, licensed corporations and corporate licence applicants were required to submit up-to-date management structure information and organisational charts to the SFC in the same time frame.<\/p>\n<p style=\"text-align: justify;\">The Securities and Futures Commission <a href=\"http:\/\/edistributionweb.sfc.hk\/t\/ViewEmail\/j\/12B532BEFA3C297F2540EF23F30FEDED\/2CEF152C6B136ED76E6039C17E42EE19\">announced yesterday<\/a> that the Manager-In-Charge regime is now in full effect. During the six-month transition period, from April to mid-October 2017, ten thousand individuals were appointed as MICs responsible for the following core functions:<\/p>\n<ol style=\"text-align: justify;\">\n<li>Overall Management Oversight<\/li>\n<li>Key Business Line<\/li>\n<li>Operational Control and Review<\/li>\n<li>Risk Management<\/li>\n<li>Finance and Accounting<\/li>\n<li>Information Technology<\/li>\n<li>Compliance<\/li>\n<li>Anti-Money Laundering and Counter-Terrorist Financing<\/li>\n<\/ol>\n<p style=\"text-align: justify;\">Approximately 40% of those nominated are not licensed persons, as they are primarily responsible for managing operations or control functions.<\/p>\n<p style=\"text-align: justify;\">Any Licensed Corporation which has not already ensured full compliance with the MIC regime requirements should act very quickly to remedy their position and minimise the risk of disciplinary action. An in-depth presentation from the SFC on the Manager-In-Charge regime is available <a href=\"http:\/\/www.sfc.hk\/edistributionWeb\/gateway\/EN\/circular\/openAppendix?refNo=17EC21&amp;appendix=0\">at this link<\/a>.<\/p>\n<p style=\"text-align: justify;\">Now that the regime has been fully implemented, the Hong Kong Monetary Authority (HKMA) has also now requested that all registered institutions submit up-to-date management structure information and organisational charts to both the HKMA and the SFC from 16 March to 16 April 2018.<\/p>\n<p style=\"text-align: right;\"><em><strong>Russell Bennett<\/strong><\/em><\/p>\n<p style=\"text-align: justify;\">The above is not intended to be relied on as legal advice and specific legal advice should be sought at all times in relation to the above.<\/p>\n<p style=\"text-align: justify;\"><em>For more information on SFO regulated activities and licence requirements, please contact:<\/em><\/p>\n<p style=\"text-align: right;\"><a href=\"\/?p=367\">Russell Bennett<br \/>\n<\/a>Partner | <a href=\"mailto:russellbennett@tannerdewitt.com\">Email<\/a><\/p>\n<p style=\"text-align: justify;\">Disclaimer: This publication is general in nature and is not intended to constitute legal advice. You should seek professional advice before taking any action in relation to the matters dealt with in this publication.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In January this year, we wrote about upcoming&#8230;<a class=\"read-more\" href=\"https:\/\/www.tannerdewitt.com\/zh-hans\/sfc-announces-full-roll-manager-charge-regime\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[205,206,233,235,244],"tags":[],"class_list":["post-5232","post","type-post","status-publish","format-standard","hentry","category-news-media-zh-hans","category-latest-news-zh-hans","category-regulatory-zh-hans","category-banking-and-finance-zh-hans","category-sfc-zh-hans"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SFC announces full roll-out of Manager-In-Charge regime - Tanner De Witt Solicitors, Law Firm Hong Kong<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tannerdewitt.com\/zh-hans\/sfc-announces-full-roll-manager-charge-regime\/\" \/>\n<meta property=\"og:locale\" content=\"zh_CN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SFC announces full roll-out of Manager-In-Charge regime - Tanner De Witt Solicitors, Law Firm Hong Kong\" \/>\n<meta property=\"og:description\" content=\"In January this year, we wrote about upcoming...Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tannerdewitt.com\/zh-hans\/sfc-announces-full-roll-manager-charge-regime\/\" \/>\n<meta property=\"og:site_name\" content=\"Tanner De Witt Solicitors, Law Firm Hong Kong\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/hong.kong.lawyer.tannerdewitt\/\" \/>\n<meta property=\"article:published_time\" content=\"2017-10-18T08:31:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.tannerdewitt.com\/wp-content\/uploads\/2020\/01\/copy-tdw-logo-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"509\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Tanner\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@tannerdewitt\" \/>\n<meta name=\"twitter:site\" content=\"@tannerdewitt\" \/>\n<meta name=\"twitter:label1\" content=\"\u4f5c\u8005\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanner\" \/>\n\t<meta name=\"twitter:label2\" content=\"\u9884\u8ba1\u9605\u8bfb\u65f6\u95f4\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 \u5206\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.tannerdewitt.com\\\/zh-hans\\\/sfc-announces-full-roll-manager-charge-regime\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.tannerdewitt.com\\\/zh-hans\\\/sfc-announces-full-roll-manager-charge-regime\\\/\"},\"author\":{\"name\":\"Tanner\",\"@id\":\"https:\\\/\\\/www.tannerdewitt.com\\\/zh-hans\\\/#\\\/schema\\\/person\\\/d71281b7f4e9857aafb69d2eae56e749\"},\"headline\":\"SFC announces full roll-out of Manager-In-Charge regime\",\"datePublished\":\"2017-10-18T08:31:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.tannerdewitt.com\\\/zh-hans\\\/sfc-announces-full-roll-manager-charge-regime\\\/\"},\"wordCount\":315,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.tannerdewitt.com\\\/zh-hans\\\/#organization\"},\"articleSection\":[\"\u6d88\u606f\u52a8\u5411\",\"Latest News\",\"regulatory\",\"banking and finance\",\"sfc\"],\"inLanguage\":\"zh-Hans\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.tannerdewitt.com\\\/zh-hans\\\/sfc-announces-full-roll-manager-charge-regime\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.tannerdewitt.com\\\/zh-hans\\\/sfc-announces-full-roll-manager-charge-regime\\\/\",\"url\":\"https:\\\/\\\/www.tannerdewitt.com\\\/zh-hans\\\/sfc-announces-full-roll-manager-charge-regime\\\/\",\"name\":\"SFC announces full roll-out of Manager-In-Charge regime - Tanner De Witt Solicitors, Law Firm Hong Kong\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.tannerdewitt.com\\\/zh-hans\\\/#website\"},\"datePublished\":\"2017-10-18T08:31:49+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.tannerdewitt.com\\\/zh-hans\\\/sfc-announces-full-roll-manager-charge-regime\\\/#breadcrumb\"},\"inLanguage\":\"zh-Hans\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.tannerdewitt.com\\\/zh-hans\\\/sfc-announces-full-roll-manager-charge-regime\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.tannerdewitt.com\\\/zh-hans\\\/sfc-announces-full-roll-manager-charge-regime\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.tannerdewitt.com\\\/zh-hans\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"SFC announces full roll-out of Manager-In-Charge regime\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.tannerdewitt.com\\\/zh-hans\\\/#website\",\"url\":\"https:\\\/\\\/www.tannerdewitt.com\\\/zh-hans\\\/\",\"name\":\"Tanner De Witt Solicitors, Law Firm Hong Kong\",\"description\":\"Tanner De Witt Solicitors is a Hong Kong law firm with an international client base.\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.tannerdewitt.com\\\/zh-hans\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.tannerdewitt.com\\\/zh-hans\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"zh-Hans\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.tannerdewitt.com\\\/zh-hans\\\/#organization\",\"name\":\"Tanner De Witt\",\"url\":\"https:\\\/\\\/www.tannerdewitt.com\\\/zh-hans\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"zh-Hans\",\"@id\":\"https:\\\/\\\/www.tannerdewitt.com\\\/zh-hans\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.tannerdewitt.com\\\/wp-content\\\/uploads\\\/2020\\\/01\\\/copy-tdw-logo.png\",\"contentUrl\":\"https:\\\/\\\/www.tannerdewitt.com\\\/wp-content\\\/uploads\\\/2020\\\/01\\\/copy-tdw-logo.png\",\"width\":1280,\"height\":509,\"caption\":\"Tanner De Witt\"},\"image\":{\"@id\":\"https:\\\/\\\/www.tannerdewitt.com\\\/zh-hans\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/hong.kong.lawyer.tannerdewitt\\\/\",\"https:\\\/\\\/x.com\\\/tannerdewitt\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/tanner-de-witt\\\/\",\"https:\\\/\\\/www.youtube.com\\\/channel\\\/UCAEYzioPOqaKYvl4O0DlVyQ\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.tannerdewitt.com\\\/zh-hans\\\/#\\\/schema\\\/person\\\/d71281b7f4e9857aafb69d2eae56e749\",\"name\":\"Tanner\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"zh-Hans\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/70f1b53565d52c6632533933ecf719bc5daef7f72a7e2c9b7649946981055fa9?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/70f1b53565d52c6632533933ecf719bc5daef7f72a7e2c9b7649946981055fa9?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/70f1b53565d52c6632533933ecf719bc5daef7f72a7e2c9b7649946981055fa9?s=96&d=mm&r=g\",\"caption\":\"Tanner\"},\"url\":\"https:\\\/\\\/www.tannerdewitt.com\\\/zh-hans\\\/author\\\/tanner\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SFC announces full roll-out of Manager-In-Charge regime - Tanner De Witt Solicitors, Law Firm Hong Kong","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.tannerdewitt.com\/zh-hans\/sfc-announces-full-roll-manager-charge-regime\/","og_locale":"zh_CN","og_type":"article","og_title":"SFC announces full roll-out of Manager-In-Charge regime - Tanner De Witt Solicitors, Law Firm Hong Kong","og_description":"In January this year, we wrote about upcoming...Read More","og_url":"https:\/\/www.tannerdewitt.com\/zh-hans\/sfc-announces-full-roll-manager-charge-regime\/","og_site_name":"Tanner De Witt Solicitors, Law Firm Hong Kong","article_publisher":"https:\/\/www.facebook.com\/hong.kong.lawyer.tannerdewitt\/","article_published_time":"2017-10-18T08:31:49+00:00","og_image":[{"width":1280,"height":509,"url":"https:\/\/www.tannerdewitt.com\/wp-content\/uploads\/2020\/01\/copy-tdw-logo-1.png","type":"image\/png"}],"author":"Tanner","twitter_card":"summary_large_image","twitter_creator":"@tannerdewitt","twitter_site":"@tannerdewitt","twitter_misc":{"\u4f5c\u8005":"Tanner","\u9884\u8ba1\u9605\u8bfb\u65f6\u95f4":"2 \u5206"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.tannerdewitt.com\/zh-hans\/sfc-announces-full-roll-manager-charge-regime\/#article","isPartOf":{"@id":"https:\/\/www.tannerdewitt.com\/zh-hans\/sfc-announces-full-roll-manager-charge-regime\/"},"author":{"name":"Tanner","@id":"https:\/\/www.tannerdewitt.com\/zh-hans\/#\/schema\/person\/d71281b7f4e9857aafb69d2eae56e749"},"headline":"SFC announces full roll-out of Manager-In-Charge regime","datePublished":"2017-10-18T08:31:49+00:00","mainEntityOfPage":{"@id":"https:\/\/www.tannerdewitt.com\/zh-hans\/sfc-announces-full-roll-manager-charge-regime\/"},"wordCount":315,"commentCount":0,"publisher":{"@id":"https:\/\/www.tannerdewitt.com\/zh-hans\/#organization"},"articleSection":["\u6d88\u606f\u52a8\u5411","Latest News","regulatory","banking and finance","sfc"],"inLanguage":"zh-Hans","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.tannerdewitt.com\/zh-hans\/sfc-announces-full-roll-manager-charge-regime\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.tannerdewitt.com\/zh-hans\/sfc-announces-full-roll-manager-charge-regime\/","url":"https:\/\/www.tannerdewitt.com\/zh-hans\/sfc-announces-full-roll-manager-charge-regime\/","name":"SFC announces full roll-out of Manager-In-Charge regime - Tanner De Witt Solicitors, Law Firm Hong Kong","isPartOf":{"@id":"https:\/\/www.tannerdewitt.com\/zh-hans\/#website"},"datePublished":"2017-10-18T08:31:49+00:00","breadcrumb":{"@id":"https:\/\/www.tannerdewitt.com\/zh-hans\/sfc-announces-full-roll-manager-charge-regime\/#breadcrumb"},"inLanguage":"zh-Hans","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.tannerdewitt.com\/zh-hans\/sfc-announces-full-roll-manager-charge-regime\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.tannerdewitt.com\/zh-hans\/sfc-announces-full-roll-manager-charge-regime\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.tannerdewitt.com\/zh-hans\/"},{"@type":"ListItem","position":2,"name":"SFC announces full roll-out of Manager-In-Charge regime"}]},{"@type":"WebSite","@id":"https:\/\/www.tannerdewitt.com\/zh-hans\/#website","url":"https:\/\/www.tannerdewitt.com\/zh-hans\/","name":"Tanner De Witt Solicitors, Law Firm Hong Kong","description":"Tanner De Witt Solicitors is a Hong Kong law firm with an international client base.","publisher":{"@id":"https:\/\/www.tannerdewitt.com\/zh-hans\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.tannerdewitt.com\/zh-hans\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"zh-Hans"},{"@type":"Organization","@id":"https:\/\/www.tannerdewitt.com\/zh-hans\/#organization","name":"Tanner De Witt","url":"https:\/\/www.tannerdewitt.com\/zh-hans\/","logo":{"@type":"ImageObject","inLanguage":"zh-Hans","@id":"https:\/\/www.tannerdewitt.com\/zh-hans\/#\/schema\/logo\/image\/","url":"https:\/\/www.tannerdewitt.com\/wp-content\/uploads\/2020\/01\/copy-tdw-logo.png","contentUrl":"https:\/\/www.tannerdewitt.com\/wp-content\/uploads\/2020\/01\/copy-tdw-logo.png","width":1280,"height":509,"caption":"Tanner De Witt"},"image":{"@id":"https:\/\/www.tannerdewitt.com\/zh-hans\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/hong.kong.lawyer.tannerdewitt\/","https:\/\/x.com\/tannerdewitt","https:\/\/www.linkedin.com\/company\/tanner-de-witt\/","https:\/\/www.youtube.com\/channel\/UCAEYzioPOqaKYvl4O0DlVyQ"]},{"@type":"Person","@id":"https:\/\/www.tannerdewitt.com\/zh-hans\/#\/schema\/person\/d71281b7f4e9857aafb69d2eae56e749","name":"Tanner","image":{"@type":"ImageObject","inLanguage":"zh-Hans","@id":"https:\/\/secure.gravatar.com\/avatar\/70f1b53565d52c6632533933ecf719bc5daef7f72a7e2c9b7649946981055fa9?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/70f1b53565d52c6632533933ecf719bc5daef7f72a7e2c9b7649946981055fa9?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/70f1b53565d52c6632533933ecf719bc5daef7f72a7e2c9b7649946981055fa9?s=96&d=mm&r=g","caption":"Tanner"},"url":"https:\/\/www.tannerdewitt.com\/zh-hans\/author\/tanner\/"}]}},"_links":{"self":[{"href":"https:\/\/www.tannerdewitt.com\/zh-hans\/wp-json\/wp\/v2\/posts\/5232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.tannerdewitt.com\/zh-hans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tannerdewitt.com\/zh-hans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tannerdewitt.com\/zh-hans\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tannerdewitt.com\/zh-hans\/wp-json\/wp\/v2\/comments?post=5232"}],"version-history":[{"count":0,"href":"https:\/\/www.tannerdewitt.com\/zh-hans\/wp-json\/wp\/v2\/posts\/5232\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.tannerdewitt.com\/zh-hans\/wp-json\/wp\/v2\/media?parent=5232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tannerdewitt.com\/zh-hans\/wp-json\/wp\/v2\/categories?post=5232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tannerdewitt.com\/zh-hans\/wp-json\/wp\/v2\/tags?post=5232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}