Compliance, Legislative & Regulatory Standards
Introduction to the Manager-In-Charge (MIC) Regime
This course is under review and the updated version will be released in late Jan or early Feb 2022.
The overall aim of this eCourse is to ensure all the licensed corporations (LC) understand the Manager-In-Charge (MIC) regime requirements and carried out the procedures as stated in the Securities and Futures Commission (SFC)’s circulars.
By the end of this course, you will be able to:
- Explain the background of the Manager-In-Charge (MIC) Regime
- Define who should be regarded as members of senior management of a licensed corporation (LC)
- Explain the roles and responsibilities of an LC’s board of directors
- Identify the eight core functions with at least one individual assigned as MIC
- Identify the regulatory obligation and potential liabilities of Senior Management
- Describe the documentation to be submitted for MIC on the SFC online Portal
2. Background of MIC
3. Meaning of Senior Management
4. Roles and Responsibilities of Board
5. Core Functions of a Licensed Corporation
6. Attributes of an MIC
7. Standard of Conduct expected of Senior Management
8. Legal Liabilities of Senior Management
9. Submission of MIC Information
Who should attend
1. All individuals who are interested in learning about the MIC regime.
2. Those have been, or will be appointed by the Licensed Corporations (LCs) as the MIC, especially they are not the Responsible Officers (ROs) of the LCs.