[Webinar] Enhancing Connectivity between Capital Markets in the GBA via Wealth Management Connect
The Hong Kong Monetary Authority announced on 18 October 2021 that 19 eligible banks in Hong Kong could launch Cross-boundary Wealth Management Connect (WMC) services. The launch of GBA WMC is another new member joining the Connect Schemes Club which links up capital markets in the Mainland and Hong Kong after the launch of the Stock Connect in 2014 and the Bond Connect in 2017.
The GBA is China’s most open and affluent region, accounting for one-fifth of China’s high-net-worth families. The immense potential of the mainland economy is also attracting many international investors to increase their exposure to Mainland-related investments in RMB assets. The WMC will create a much greater customer base and propel local wealth management industry in the GBA cities, further fortifying Hong Kong’s role as an international financial centre as well as the integration of financial services in the GBA.
By the end of this webinar, participants will be able to understand different aspects of GBA WMC including growth potential, operational requirements, system and IT-related Infrastructure and market updates after the launch.
1. Highlights of the Pilot Scheme
2. Key considerations for Business Processes and Operational Controls
3. System and IT-related Infrastructure Implementation requirements
4. Market updates after the recent launch
The webinar is primarily targeted at investment advisors, fund managers, in-house counsel & compliance, senior management such as Responsible officers, Managers-in-Charge, directors, CIOs, COOs, CEOs of financial institutions and bankers who would like to have a better understanding of current developments and potential of the wealth management scheme.
Gary’s areas of expertise and experience include business process and application controls, IT systems and operational procedures implementation, e-banking/e-trading/e-payment, virtual bank and fintech, cyber security and data protection, corporate governance, operations and technology outsourcing, regulatory compliance and reporting, testing management, due diligence and process integration, business continuity and resilience management, data management and analytics, investigations, C-SOX/US-SOX, deposit protection, FATCA/CRS, IAS39/IFRS9, and BASEL regulatory framework, etc.
Gary has a number of other professional qualifications such as Fellow member of the Association of Chartered Certified Accountants (FCCA), Certified Information System Auditor (CISA), Certified Information Systems Security Professional (CISSP) and Financial Risk Manager (FRM). He is also a regular speaker at industry seminars, forums and training events.
Adams has advised various financial institutions on the regulatory requirements stipulated by the HKMA/SFC and assisted them in the preparation of compliance documentation and implementation of processes and procedures. In addition, he has also led many remediation projects where he assisted the banks concerned in addressing specific compliance issues as identified by the regulators.
Adams is also the Vice Chairman of the Professional Ethics Review Committee of the Institute of Financial Planners of Hong Kong.
She provides advisory services to retail and commercial banks in Hong Kong and Mainland China in the launch of new business, including private banking business and insurance agency business. She leads in assisting clients in the launch of GBA WMC business, provide advisory service in client’s setting up WMC business and performs the relevant independent assessment in compliance requirements and regulatory application. She provides advisory services to client in the virtual banking licenses and traditional banking license, and provides support to clients covering corporate governance structure, systems of controls and regulatory reporting framework. She is experienced in internal control, risk management and financial accounting of banking industry.