Revised FMCC Independent Valuation Review - Practical Aspects and Challenges for Fund Managers

Revised FMCC Independent Valuation Review - Practical Aspects and Challenges for Fund Managers

New Seminar

Overview

The revised Fund Manager Code of Conduct (“FMCC”) which came into effect on 17 November 2018 requires that a Fund Manager to perform a periodic review (at least annually) of their valuation policies, procedures and processes. This review should be performed by a competent and functionally- independent third party.

As fund managers’ fees are typically charged based on the fund’s valued asset size, this requirement serves to mitigate any conflict of interest.

What should fund managers do to comply with this requirement?

Objective

The objectives of this course is to give a brief introduction of the independent valuation process review requirements as required by the FMCC and the practical aspects and difficulties during the review process.

Content

This course will cover the following:
1. Brief introduction of the independent valuation process review requirements
2. Review process on different types of products and portfolio
3. Practical considerations of engaging 3rd party or internal resources for the review
4. Practical difficulties encountered during the review process

Who should attend

Fund managers, asset managers and those interested in a review of its valuation policies, procedures and process

Financial Incentive Scheme of the WAM Pilot Programme

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

Eligible in-service practitioners of the financial services industry could apply for reimbursement of 80% of the course fees, subject to a maximum of HK$7,000 (whichever is lower) upon satisfactory completion of a course / seminar / conference over the three-year period of the Scheme.

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

Application to reimburse the course fees, together with the required documents, must be submitted within four months from the last day of the course / seminar / conference attended. Please refer to the WAM Pilot Programme website for more details.

Speaker/Course Instructor

Peter PANG
Peter has more than 20 years of risk and assurance experience. He focuses on serving clients in the financial services industry, including fund managers, fund administrators and trustees, banks, securities firms, regulators and professional organisations.

He is now a Principal in Risk Advisory Practice of BDO in Hong Kong, managing internal control review, internal audit, corporate governance, risk management and other assurance projects for local, regional and international clients. Prior to joining BDO, he was the Head of Risk of a listed aircraft leasing company with operations in Asia, Europe and America. He also worked in a large international accounting and advisory firm as head of department. Peter is a frequent speaker on new developments in the financial service industry.

Peter is a Fellow of the Hong Kong Institute of Certified Public Accountants, a Fellow of Institute of Chartered Accountants in England and Wales and a certified FRM of Global Association of Risk Professionals (GARP).

Details

Code
TSUAW20000201
Date & Time
Thursday, 16 Jan 2020 (12:20PM - 1:20PM)
Venue
HKSI Institute Training Centre
Language
English
Level
Introductory
Hours
SFC:1.00, PWMA:1.00
Fees
All Member: HK$220
Staff of Corporate Member: HK$220
Non-Member: HK$440