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Duties and Liabilities of Responsible Officers under the SFO
Presenters:
Angelina Kwan, Managing Director, Chief Operating Officer – Asia Pacific, Cantor Fitzgerald
Felicity Wong, Associate, Sidley Austin
Course Details:
Date:
15 May 2010, Saturday
Language:
English
Time:
9:30 am – 12:45 pm
Level:
Standard
Venue:
22/F, 100 Queen’s Road Central,
Hong Kong
Fee:
CPD Law Points:
3
HK$1,800
HK$1,530 (for online registration)
1
3
3
CPT Hours :
2
CFA CE Credits :
3
Course Outline:
All registered firms such as securities/futures companies, fund management firms, financial advisory companies and corporate
finance firms will need to be licensed by the SFC to conduct regulated activities. Each licensed corporation requires 2 Responsible
Officers (RO). How do you become an RO and what are the duties and liabilities for ROs? Highlights of the course include:
Appointment of a responsible officer – who is eligible? What prior businesses / experiences would be required an RO? What do
you mean by “fit & proper”?
Application for licence and usual conditions imposed on ROs
Exemptions of requirements, e.g. exam requirements, residency requirements, etc.
Grounds for rejection of an RO
Functions and duties of an RO under the SFO
Codes of Conduct applicable to an RO
Investigations by SFC and duty of RO during investigations
o
Whistle-blowing if suspect employee’s misconduct
o
Co-operation during investigation
Potential misconduct of an RO under the SFO
o
Personal misconduct - Market Misconduct offences
o
Misconduct of licensed corporation (LC)
Suitability of advice by licensed reps.; Connivance or consent/neglect of duty in LC’s misconduct?
Usual types of LC’s, e.g. cold calling, carrying on unlicensed regulated activities, lack of internal control, FRR
breaches, etc.
Money laundering – suspicious transaction reporting and liability of ROs
o
Self reporting by RO & internal investigation
Potential liability for ROs, e.g. disciplinary (suspension of licence/fines) /civil /criminal
Recent SFC cases against ROs
Note 1 – CPT Requirements: Our courses can fulfil CPT requirements. The Securities & Futures Commission has advised that although formal endorsement will not be given for the training we provide, it
does not mean that the training programmes we organize do not meet the CPT purpose. Registrants should note that your employer, as the corporate licensee of your SFC registration, is responsible
for determining whether our courses or any training course satisfy CPT requirements i.e. that the training you receive are of appropriate standard and relevance to your maintaining and enhancing
the technical knowledge and professional expertise. Please check with your employer before registering for our courses. C&S does not warrant that the attendance of our courses would automatically
be recognized by the SFC as fulfilling your CPT requirements.
Note 2 – CE Credits: C&S is registered with CFA Institute as an Approved Provider of Continuing education programs. This program is eligible for 3 CE credit hours, as granted by CFA Institute. If you are
a CFA Institute member, CE credit for your participation in this program will be automatically recorded in your CE Diary.
Note 3 – Standard: for those who have basic knowledge of this topic.
Courses & Seminars Ltd
Tel: (852) 2901 1333
Fax: (852) 2901 1332
Web: www.courses-seminars.com
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Registration Form
Course Details:
Course Name:
Duties and Liabilities of Responsible Officers under the SFO
Course Code:
LCF 675
Participant(s) Details:
Firm / Company:
Contact Person:
Nature of Business:
Tel:
Fax:
E-mail:
Address:
Please make additional copies, if necessary:
Name of Attendee 1:
Dr. / Mr. / Mrs. / Ms.
(as on practicing certificate or registration of trainee solicitor contract)
Job Title:
E-mail:
Solicitor No. / CFA Member No.:
Place & Year of Admission:
□
CPD Law Pts required
Certificate required:
Name of Attendee 2:
□
□
CPT Hours required
□
CE CFA
Yes (HK$50 per certificate per course)
□
□
Others:
No
Dr. / Mr. / Mrs. / Ms..
(as on practicing certificate or registration of trainee solicitor contract)
Job Title:
E-mail:
Solicitor No. / CFA Member No.:
Place & Year of Admission:
□
CPD Law Pts required
Certificate required:
Name of Attendee 3:
□
□
CPT Hours required
□
CE CFA
Yes (HK$50 per certificate per course)
□
□
Others:
No
Dr. / Mr. / Mrs. / Ms.
(as on practicing certificate or registration of trainee solicitor contract)
Job Title:
E-mail:
Solicitor No. / CFA Member No.:
Place & Year of Admission:
□
CPD Law Pts required
Certificate required:
□
□
CPT Hours required
□
CE CFA
Yes (HK$50 per certificate per course)
Cheque for HK$
□
□
Others:
No
enclosed
Signature:
Date:
Payment Methods:
To reserve your seat(s), please complete the registration form and forward full payment of course fee via one of the following methods:
■ Make cheques payable to “Courses & Seminars Limited” and mail your payment together with this registration to our office (22nd Floor, 100
Queen’s Road Central, Hong Kong).
■
Submit cash / cheque payment in person at our office (22nd Floor, 100 Queen’s Road Central, Hong Kong).
■
Direct transfer to our account at HSBC (102-437431-001).
For registration conditions & further queries, please contact our office at (852) 2901-1333 or visit our website at http://www.courses-seminars.com
Courses & Seminars Ltd
Tel: (852) 2901 1333
Fax: (852) 2901 1332
Web: www.courses-seminars.com