Regulatory Update Series

[Webinar] Update on Simplifying Compliance with Electronic Data Storage Requirements



Over eight months on from the release of the clarifying FAQs and subsequent industry implementation of the Securities and Futures Commission (SFC)’s EDSP regulation, we discuss common challenges and opportunities it brings to the industry across sectors and according to the problems from LCs of varying sizes.


By the end of the webinar, participants will be able to:
1. Recap on the background to the SFC's regulations on electronic data storage
2. Understand the requirements on international electronic data storage
3. Clarify actions that LCs should have taken and implemented into BAU to achieve compliance
4. Understand common challenges the industry has faced in its implementation, for example Regulatory Records held by overseas affiliates
5. Understand how potential solutions to common industry concerns have evolved throughout its implementation and compliance problems, for example, definition of Regulatory Records, what data must be in Hong Kong and audit requirements for the access maps


- Provide background to the SFC's recent regulations and FAQs with regards to electronic data storage
- Highlights of the SFC’s expectations on data storage and typical implementation approaches
- Simplified compliance for the fund management industry
- The implementation challenges in complying with the Circular and FAQs in practice, including how these challenges vary across LCs and size
- Practical difficulties of lineage across geographies and common solutions
- The (simplified) contents of an SFC Access Map and lessons learned from completing it, for varying sizes of LC
- How the access map and SFC's EDSP circular align with similar regulatory initiatives such as operational resilience and the HKMA's Secure Tertiary Data Backup Guideline


- Senior Management
- Compliance
- MICs
- Technology Risk, Technology Cloud and Operational Risk staff
- Those with responsibilities around Operational or Data Resilience


Chris is a Partner in EY’s Data and Analytics practice leading the Financial Services team in HK, having moved to Hong Kong from EY London in 2016. His client focused team covers all aspects of data and analytics – from big data, to regulatory risk analytics to advanced analytics and machine learning. He has been working on data resilience and the SFC’s EDSP circular on behalf of an industry working group since 2018 and has extensive experience advising clients on their data strategies. His financial services experience has encompassed all areas of financial services – from asset servicers, insurers, regulators, retail banks, to investment banking, with sizes ranging from new start-ups to the largest global multi-nationals, including three months working with a start-up investment bank in Beijing. Chris is also involved in the FinTech Association of Hong Kong as a co-chair of the AI & Big Data Committee.
Jennifer is a Senior Manager in the Financial Services Advisory Services practice of Ernst & Young. She has over eight years’ experience leading international Risk Assurance departments from roles based in London, Mexico City and Hong Kong. Jennifer has led large-scale regulatory remediation projects spanning multiple jurisdictions and businesses, and developed Second Line of Defence Functions to support sustainable business growth. Most recently she focuses on supporting Financial Institutions navigate digital risks and transform controls with Big Data and Artificial Intelligence.


2021年8月26日, 星期四 (12:20下午 - 1:20下午)
新, 研討會
SFC:1.00, PWMA:1.00