概要

This eCourse provides a comprehensive understanding of depositaries' role in overseeing custody functions and operations of SFC-authorised collective investment schemes (“CIS”). Participants will explore effective oversight factors and the appropriate actions to mitigate relevant risks in general.

* This eCourse is developed for Topic 3 of Paper 19 of the Licensing Examination for Securities and Futures Intermediaries – “Depositary services for collective investment schemes” (“LE Paper 19”). As the eCourse is the only source of materials on Topic 3 for preparing the LE Paper 19 examination, all LE Paper 19 examination candidates will be automatically enrolled in this course within 1 week of examination enrolment.

宗旨

By the end of the course, you will be able to:
- Describe the role of responsibilities of depositaries (top level custodian and trustee), and the oversight obligations of their delegates and/or third-party service providers;
- Understand the basic concepts and activities related to custody functions;
- Understand various CIS operations based on the scheme documents;
- Examine the factors that should be considered and the measures that need to be taken when overseeing custody functions for CIS property and fulfilling a depositary's obligations in the oversight of various CIS operations;
- Describe the risk associated with insolvency of the depository, other delegates, banks or central securities depositories where the client assets, whether in the form of securities or cash, are kept, identify and apply appropriate actions to mitigate the risks in general;
- Describe the risk associated with depositary failure in relation to internal control, operations and oversight of the task performed by relevant parties, identify and apply appropriate actions to mitigate the risks in general.

內容

- Role and functions of a depositary
- Custody functions
- CIS operations
- Oversights and risks

對象

It is primarily targeted to LE Paper 19 candidates who wish to take the LE Paper 19. It is also relevant to those practitioners who would like to enhance their industry and product knowledge in depositary services for SFC-authorised CIS.