(Asset and Wealth Management Annual Regulatory Update 2018) Course 3 – WAM Industry Best Practices & Effective Application

(Asset and Wealth Management Annual Regulatory Update 2018) Course 3 – WAM Industry Best Practices & Effective Application

Overview

The panel of speakers from PwC will be sharing some of the best practices and effective application relevant to the asset and wealth management industry.  Understand how an organisation would benefit from having a strong risk culture. The proper tone from the top is critical as organisations adopt the new Manager-in-Charge regime. What can we expect from the upcoming FATF mutual evaluation of Hong Kong? Is your organisation's AML programmes effective?  

Content

Topic 1: Risk Culture

This session aims to provide participants with a better understanding of risk culture, what happens when the organisation has a poor risk culture and some methods to measure and strengthen an organisation's risk culture. 

Topic 2: Manager-in-Charge ("MIC") Regime and Outsourcing Obligations

This session aims to provide participants with an overview of MIC regime and how it impacts asset and wealth managers in discharging their responsibilities under the MIC regime.  The panel will also share some of the challenges faced by asset and wealth managers in demonstrating adequate oversight of outsourced activities. 

Topic 3: Anti-Money Laundering - Latest Developments and Implications

The session aims to provide participants with an overview of the latest developments in Anti-Money Laundering ("AML") and the implications on a firm's AML programme.

Financial Incentive Scheme of the WAM Pilot Programme

This is one of the eligible courses under the Financial Incentive Scheme (“The Scheme”) of the WAM Pilot Programme.

In-service practitioners of the financial services industry will be eligible for the Scheme. They will be reimbursed 80% of the course fees, subject to a maximum of HK$7,000 (whichever is the lower) upon satisfactory completion of a course or seminar over the three-year period of the Scheme.

Each individual may apply for reimbursement for more than one course / seminar.

Application to reimburse the course fees, together with the required documents, must be submitted within four months from the last day of the course attended.

Please refer to the WAM Pilot Programme website for more details.

Speaker/Course Instructor

Carlyon KNIGHT-EVANS
Carlyon Knight-Evans is a Financial Services Risk & Regulatory Partner at PwC. He has 25+ years of experience serving clients in the asset and wealth management industry, the first 11 years were spent in the UK and for the last 17 years he has been based in Hong Kong. In addition to providing assurance services to the asset and wealth management industry, Carlyon also has extensive experience in advising asset servicers, wealth managers and asset management firms on operational effectiveness, best practices in areas of corporate governance and internal controls, start-ups, and regulatory and compliance work. He services clients across the various sub-sectors of the industry, including administrators, custodians, trustees, hedge funds, private equity, real estate, wealth managers and traditional asset managers. Carlyon was a member of the Hong Kong Institute of Certified Public Accountants (HKICPA) Expert Panel on Securities for 8 years and currently serves on the HKICPA’s Disciplinary Panel and was appointed as a member of the Financial Reporting Review Panel of the Financial Reporting Council in 2016. He is also an Executive Committee member of the Hong Kong branch of the Alternative Investment Management Association. Carlyon is PricewaterhouseCoopers' Alternatives leader for Asia Pacific.
Hokee FU
Hokee is a Partner at PwC Hong Kong who specialises in Anti-Money Laundering and other compliance matters. Hokee advises a broad range of financial institutions and designated non-financial businesses and professionals operating in the Asia Pacific region on their Anti-Money Laundering programmes, and has delivered a significant number of regulator-commissioned reviews in assessing compliance status as well as conducted remediation/enhancement projects to help organisations ensure compliance with the applicable Anti-Money Laundering requirements.

Hokee has spent six months on secondment to a regulator where he conducted inspections of banks in order to assess their compliance status against the applicable Anti-Money Laundering requirements. He has supported a regulator in the development of money laundering risk assessment, with a primarily focus on industry data collection and analysis.

He is a member of the Anti-Money Laundering working group at the Hong Kong Institute of Certified Public Accountants, assisting with the development of the institute’s enhanced AML guidelines to accountants and comment upon government consultations.

He is also a regular speaker at various functions, including the management of tax evasion risk at a Hong Kong Monetary Authority training seminar, and at Anti-Money Laundering training seminars jointly organised by the Narcotics Division within the Security Bureau of the Hong Kong Special Administrative Region Government, Joint Financial Intelligence Unit and Hong Kong Institute of Certified Public Accountants.
Helen LI
Helen is a Partner specialising in the Asset and Wealth Management Industry Group and provides assurance and advisory services for asset and wealth management clients. She has extensive auditing and regulatory advisory experience, serving investment fund managers, advisors, fund administrators, private equity funds, hedge funds, traditional funds and SFC authorised funds. She is active in providing wide range of regulatory advisory services to asset and wealth management clients, including conducting internal controls review work, advising regulatory compliance review for asset managers, prime brokers and other service providers. Additionally, she is also very experienced in providing the assurance and advisory services for the start up investment funds, newly established fund managers and investment advisors.

In 2008-2009, Helen seconded to the SFC’s Intermediary Supervision Department for a 9-month period, during which she was responsible for the supervision of SFC licensed intermediaries, including securities broker firms, fund managers and investment advisors.

Helen is a member of the Hong Kong Institute of Certified Public Accountants (HKICPA) and the Association of Chartered Certified Accountants (ACCA). She is a member of Investment Funds Regulatory Panel of HKICPA. She is also a charter holder of Chartered Financial Analyst.
Michael FOOTMAN
Michael is a Partner with PwC Hong Kong’s Financial Services Risk and Regulation practice. He has 15 years of diverse experience working with financial institutions and regulators. Michael has more than ten years of experience working in PwC Hong Kong. He also spent four years working with PwC Australia’s Financial Services practice based in Sydney. Michael has broad experience in executing risk and regulatory engagements for large financial institutions, many of which were regulatory driven appointments. These include engagements mandated by the Hong Kong Monetary Authority and the Securities and Futures Commission. Most recently, Michael has been supporting his clients in enhancing their control infrastructure in response to governance, compliance and conduct risks.

Details

Code
TPPAM18000501
Date & Time
Friday, 9 Feb 2018 (9:30AM - 1:00PM)
Venue
HKSI Institute Training Centre
Language
English
Level
Advanced
Hours
SFC:3.50, PWMA:3.50