Global menu

Our global pages

Close

SFC’s Managers in Charge Regime: Deadline for Compliance Draws Near

  • Hong Kong
  • Other

09-06-2017

The circular and FAQ document published by the SFC on 16 December 2016 introduced the MIC regime (“MICR”) to heighten the accountability of senior managers in licensed corporations. Details of the MICR can be found in our previous briefing.

The deadline for submitting the management structure information with Managers-In-Charge (“MICs”) details via the Securities and Futures Commission (“SFC”) Online Portal is fast approaching on 17 July 2017. The deadline for application of MICs for approval as Responsible Officers is 16 October 2017.

Licensed entities should have identified their MICs and be finalising their reviews of existing management and governance structures. Given the challenging deadlines for compliance with the MICR, firms should ensure that their internal projects are on track to be complete in time for the filing deadline. Where necessary, licensed entities should be considering how to revise their management structure in light of the SFC’s requirements.

Eversheds is well placed to advise in relation to the MICR.

Paul Moloney, Partner
Catriona Kellas, Senior Associate

< Go back

Print Friendly and PDF

© Eversheds Sutherland 2021. All rights reserved. Eversheds Sutherland is a global provider of legal and other services operating through various separate and distinct legal entities.

Eversheds Sutherland is the name and brand under which the members of Eversheds Sutherland Limited (Eversheds Sutherland (International) LLP and Eversheds Sutherland (US) LLP) and their respective controlled, managed and affiliated firms and the members of Eversheds Sutherland (Europe) Limited (each an "Eversheds Sutherland Entity" and together the "Eversheds Sutherland Entities") provide legal or other services to clients around the world. Eversheds Sutherland Entities are constituted and regulated in accordance with relevant local regulatory and legal requirements and operate in accordance with their locally registered names. The use of the name Eversheds Sutherland, is for description purposes only and does not imply that the Eversheds Sutherland Entities are in a partnership or are part of a global LLP. The responsibility for the provision of services to the client is defined in the terms of engagement between the instructed firm and the client.