Asset Management Fundamentals Module 3: Regulation of Asset Management (5-hour intensive class)

Asset Management Fundamentals Module 3: Regulation of Asset Management (5-hour intensive class)


The Asset Management Fundamentals Programme, which comprises of FOUR modules, is an induction programme designed to equip the financial services practitioners with the required knowledge and skills to enable them to enter into the Asset Management industry.

The Asset Management Fundamentals programme has four modules. Module 3: Regulation of Asset Management provides an overview of specific regulatory requirements related to asset management sector.

To address different learner’s needs, Module 3 has two versions: 5 hour intensive class and 10 hour foundation class.

Upon successful completion of all FOUR modules of the Asset Management Fundamentals, the participant will be awarded the Certificate of Completion of this programme.


1. General Regulatory Framework
2. Back-office Compliance
3. Asset Management Regulations
4. Misconduct
5. Quiz

Who should attend

This 5-hour module is primarily targeted to those who has extensive experience in securities industry but would like to gain a solid understanding of the Asset Management industry sector to enable them to apply for the Regulated activity Type 9 licence under the Securities and Futures Ordinance. Participants who have no or limited experience in securities industry should attend the 10 hour foundation class.

Completion Criteria

Participants are required to attend and complete both classes of this module.  Attendance record will be issued based on the actual attendance record.  For details, please refer to the HKSI Institute's attendance policy and regulations.


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

Samuel CHOI
Samuel is the Audit Head of Financial Services - asset management, securities and banking - of Crowe Horwath (HK) CPA Limited, a member firm of Crowe Horwath International ranked among the top 10 global accounting networks, with 750 offices in 130 countries around the world.

Samuel started his audit career with Pricewaterhouse Coopers in 1991 with specialisation in Financial Services since 1994. He joined Deloitte Sydney as Account Director in 1997. He was then relocated to Deloitte Hong Kong and co-found the Financial Services Advisory Group providing non-assurance services to financial services clients. He was the leading audit partner of the investment management practice when he retired from the Deloitte Hong Kong partnership in 2006 to further his specialization in asset management industry, especially alternative investments.

Samuel then joined J. P. Morgan Asset Management (JPMAM) as the Chief Administrative Officer (Asia ex. Japan) overseeing Risk Management, Finance and Tax for the region. In addition, he was the Director of China International Fund Management Co., Ltd, the Shanghai joint-venture fund management company of Shanghai International Trust Corporation Ltd. and JPMAM.

Samuel co-founded Elmore Capital Limited (ECL) which was majority owned by an Asian family office, and launched a multi-asset class hedge fund, comprising Asian equities, Asian currencies and commodities in 2009. Samuel was the shareholder, board director, Chief Executive Officer (CEO) and SFC Type 4 & 9 Responsible Officer (RO) of ECL. Samuel brought ECL to become Wolver Hill Group’s Hong Kong office which has then been rebranded to Wolver Hill Asset Management Asia Limited (WHAMAL) in 2014. As a core founding member of the Hong Kong office, Samuel restructured ECL and built WHAMAL from a boutique start-up to a reputable fund platform. At the time of his departure in 2017, WHAMAL was supporting fund managers with the aggregate Assets-Under Management (AUM) of over USD1 billion.
Cyrus Yat Sing FONG
Cyrus has considerable audit and financial services industry experience in providing services to listed banks, listed securities brokerage firms, asset management companies, investment agencies, private equity funds and other financial institutions in Hong Kong, China and overseas. He has comprehensive knowledge on the regulatory reporting requirements and related compliance matters of Hong Kong Monetary Authority and Securities and Futures Commission of Hong Kong. He has specialized in serving financial services industry clients, especially for clients who have Type 1, 4, 9 licences since joining Big-4 audit practice in 2007 prior to joining Crowe Horwath.
Raymond CHIU
Raymond has served for various types of clients from listed companies to public and private companies for various types of engagements relating to audits, internal control reviews and special due diligence reviews. Currently, he has specialized in serving financial services industry clients including different types of licensed corporations, especially in Type 1, 4, 9 licences. He has 10 years auditing experience in a bank which provides professional banking services to middle and small-sized enterprises as well as communities in Macau.
Felix CHAN
Felix started his career as an auditor at CCIF CPA Limited in Hong Kong. From there he moved into corporate consultancy for Alliance Financial Intelligence Limited and participated in Pre-IPO projects for clients based in the PRC.

He was then appointed Corporate Controller of CT Electronics Group to facilitate for the reverse takeover process of the company by a listed company on the Toronto Stock Exchange. After the completion of the said transaction, Felix moved onto managing the project division of a company listed on the Hong Kong Stock Exchange.

Felix then took a break from the corporate scene and started his own education business with partners in Shenzhen, China. The business was subsequently sold to partners and Felix returned to Hong Kong to take up the position of Associate Manager at the HKMA.

Since then Felix has worked at Grandtop International Capital Limited specializing in Internal Control for listed companies. Felix holds a double degree in Law and Business Administration from the University of Hong Kong. Felix is an internal control and operational risk management consultant for listed companies as well as asset management companies. He specializes in implementing internal control and risk management systems, procedures and policies for companies and regulated entities.
Wilkie LAI
Wilkie Lai has been in the Banking and Asset Management industry for around 20 years, spanning across various areas like risk management, operations, technology, client development, legal, and compliance. His latest venture involves a startup initiative in providing next generation A.I. (artificial intelligence) solutions and services to the financial industry.

Before that he was the Head of Compliance for Dragon Capital Group, a US$1.5 billion+ regional fund with a focus in the Indo-China markets. His mandates covered regulatory and investment compliance across multiple jurisdictions including Hong Kong, EU, UK, US and traditional offshore markets. In that capacity he was a member of the Group's Management and Compliance Committee.

Prior to Dragon Capital Group, he spent more than 7 years at TriBridge Investment Partners, a pan-Asian credit hedge fund, in various capacities including Chief Risk Officer and Managing Director. In his tenure he covered all non-trading functions including operations, client management, risk management, legal and compliance.

Wilkie also headed up different risk management functions for a number of financial institutions in Hong Kong. He was with Bank of China (Hong Kong) focusing on bank-wide market risk management functions, as well as Banca Intesa S.p.A. Hong Kong Branch focusing on overall risk management functions. Prior to his internal risk manager roles, Mr. Lai spent 6 years with Thomson Reuters, the global information company, in their Trade and Risk Management practice focusing on treasury and middle office advisory and solutions for financial institutions across Asia. He also worked for Andersen Consulting (now Accenture) in process re-engineering for financial institutions.

Wilkie is a lawyer qualified by the State of New South Wales, Australia. He read law at Chinese University of Hong Kong and Australia National University and holds a Juris Doctor degree. He further received a M.Sc. degree in Information System Management from Hong Kong University of Science and Technology, and a B.A. degree in Computer Science from the University of California.


Date & Time
Monday, 15 Jan 2018 (6:30PM - 9:00PM)
Wednesday, 17 Jan 2018 (6:30PM - 9:00PM)
HKSI Institute Training Centre
SFC:5.00, PWMA:5.00
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