These codes reflect the policy of football in Western Australia, and outline the required conduct for all participants across the state. Since adoption in 2016, the Code of Conduct is delivering continuous progress: the last evaluation shows that on average the companies are now assessing 90% of flagged content within 24 hours and 71% of the content deemed illegal hate speech is removed. Historically, the requirement to ensure suitability was triggered where an intermediary recommended or solicited a transaction. means the Code of Conduct for Persons Licensed by or Registered with the SFC. On 18 November 2018, this new set of rules will come into force, bringing additional governance, operational, and disclosure requirements. Historically, the requirement to ensure suitability was triggered where an intermediary recommended or solicited a transaction. Learn more about our, Academic and Accreditation Advisory Committee, Committee on Real Estate Investment Trusts, Share Registrars' Disciplinary Appeals Committee, Mainland-Hong Kong Mutual Recognition of Funds, Cooperative arrangements with the CSRC and Mainland exchanges, Cooperative arrangements with other Mainland regulators, Investigatory assistance and exchange of information, Public enquiries: Further guidance and sources of information, Companies (Winding Up and Miscellaneous Provisions) Ordinance exemptions, Guidelines on Disclosure of Inside Information, Disciplinary proceedings before the Takeovers Panel, Types of intermediary and licensed individual, Register of licensees & registered institutions, List of modifications or waivers of licensing requirements, List of jurisdictions with comparable OTCD margin requirements, List of publicly offered investment products, Specific information about unlisted structured investment products, List of recognised jurisdiction schemes and inspection regimes, List of registered open-ended fund companies, Register of Automated Trading Services Authorized Under Part III of the Securities and Futures Ordinance, List of Designated Central Counterparties for the Purposes of Mandatory Clearing Under Part IIIA of the Securities and Futures Ordinance, Aggregated reportable short positions of specified shares, Securities and Futures Ordinance (with subsidiary legislation), Companies (Winding Up and Miscellaneous Provisions) Ordinance (with subsidiary legislation), Securities and Futures Ordinance Part XV - Disclosure of Interests, List of eligible jurisdictions for remote onboarding of overseas individual clients, Anti-money laundering and counter-financing of terrorism, Other publications and information sources, Minimum information to be provided and warning statements, Open-ended Fund Company: The corporate investment fund vehicle in Hong Kong, High shareholding concentration announcements, The Investor Compensation Company Limited, Code of Conduct for Persons Providing Credit Rating Services, SFC Handbook for Unit Trusts and Mutual Funds, Investment-Linked Assurance Schemes and Unlisted Structured Investment Products, No previous versions before the launch of the Handbook. Provisions prescribed by the SFC Code of Conduct. Under the Securities and Futures Ordinance (SFO) (section 169), the SFC has specific power to publish codes of conduct for the purpose of giving guidance relating to the practices and standards with which intermediaries and their representatives are expected to comply. 3. so as to make them compatible with the cross-references in the firms’ underlying documents. As with many regulatory change projects, implementation is no longer “the end” of the road, rather, it is a beginning of sorts. Risk mitigation requirements are operational and documentation requirements aimed at reducing the counterparty credit risk and operational risk faced by LCs when they trade non-centrally … The New Clause must be incorporated verbatim with no modification to its original wording. Law Soc: 1 CPD . SFC Consultation Paper proposed amendments to Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission Proposed Amendments to the Code In Relation To The FDRC process Licensees participation in the FDRC process pursuant to Paragraphs 12A and 12.3(c) of the Code About the SFC Regulatory functions Rules and standards Published resources News and announcements Career Search. Hong Kong plans new code of conduct for equity and debt deals: Sources Fri, Nov 13, 2020 - 4:54 PM The Securities and Futures Commission (SFC) has asked banks to give feedback on several aspects of how transactions work by Friday, the sources said, declining to be named as they were not authorised to speak to media. Inter… The Code of Conduct does not prescribe a particular form of communication of the information to clients but licensed corporations should maintain adequate audit trails of the communication (such as documentation in the account opening form that such communication has been made). The SFC noted that the enhancements to the FMCC are intended to reflect the latest international benchmarks concerning the conduct of fund managers issued by the International Organization of Securities Commissions (IOSCO) and the Financial Stability Board (FSB), and other international expectations which are intended to ensure that Hong Kong has a robust … Almost 500 of our 850 employees are co-owners. No chants with inappropriate language including any comments regarding racism, sexual orientation or ethnicity are permitted . As such, all intermediaries that provide discretionary investment management services to their clients and enter into agreements with them, such as IMAs, should include the New Clause in the agreements unless they are entitled to the exemptions. It describes the requirements we set for ourselves and our expectations of customers and business partners. If you continue to use this website, you are agreeing to their uses. 2.1.1 A sponsor should deal with the regulators in a truthful, cooperative and prompt manner. the Code of Conduct for Persons Licensed by or Registered with the SFC (Code of Conduct), which will take effect on 17 August 2018; and the Fund Manager Code of Conduct (FMCC), which will take effect on 17 November 2018. With regard to how to amend the client agreements, it depends on the circumstances and can be done in different ways (e.g. As stated in the Consultation Conclusions on the Client Agreement Requirements (“Consultation Conclusions”) issued on 8 December 2015, all intermediaries, including those licensed or registered for Type 9 regulated activity, should include the New Clause in their client agreements. Version 1.0 : Produced by Shay O’Donoghue The Commission will be guided by this Code of Conduct (“the Code”) in considering whether a licensed or registered person satisfies the requirement that it is fit and proper to remain licensed or registered, and in that context, will have regard to the general principles, as well as the letter, of the Code. The Enhanced Suitability Proposal will be implemented through changes to the Code of Conduct for Persons Licensed by or Registered with the SFC (“Code of Conduct”) and will take effect on April 6, 2019. Section reference: Paragraph 9A(a) & (b) in Schedule 5 This is by far the biggest Island Conference! Prohibited conduct includes, but is not limited to, the following: 1. The Enhanced Suitability Proposal will be implemented through changes to the Code of Conduct for Persons Licensed by or Registered with the SFC (“Code of Conduct”) and will take effect on April 6, 2019. On 12 December 2018, Hong Kong’s securities regulator, the Securities and Futures Commission (SFC) issued its consultation conclusions on amendments to the Hong Kong code of conduct for Persons Licensed by or Registered with the Securities and Futures Commission (Hong Kong Code of Conduct) to:introduce new requirements on over-the-counter (OTC) … Hong Kong SFC introduces new Code of Conduct requirements on OTC derivative risk mitigation and client clearing and to address risks posed by group affiliates On 12 December 2018, the Securities and Futures Commission published the conclusions to its consultation on refinements to the over-the-counter derivatives regime and to require licensed corporations to … SFC’s Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission (the Code of Conduct) 2.1 Standards. However, the FMCC does not cover all aspects of conduct regulation, and in practice the SFC and industry often looked selectively to the Code of Conduct to fill the gaps. 29.2 – SFC’s Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission (Code of Conduct) 29.3 – SFC’s Corporate Finance Adviser Code of Conduct (the CFA Code) 29.4 – Rules Governing the Listing of Securities on the Stock Exchange of … If you continue to use this website, you are agreeing to their uses. New SFC consultation on amending Code of Conduct. Agreement and adherence to this code of conduct is a requirement for membership in the Spray Foam Coalition for companies that manufacture SPF CODE OF CONDUCT pologists, ecologists and scientists.This Code of Conduct for corporate sustaina - bility clarifies our position and outlines the ways in which we take responsibility for our actions. The implementation deadline for the SFC (Securities & Futures Commission) Fund Manager Code of Conduct (FMCC) is now about one month away for fund managers with operations in Hong Kong. Furthermore, it is explained in paragraph 36 of the Consultation Conclusions that under the new professional investor regime, all intermediaries serving “Institutional Professional Investors (“Institutional PIs”)” or “Corporate Professional Investors (“Corporate PIs”)” (as defined under the new paragraph 15.2 of the Code) are entitled to certain Code exemptions. Define SFC Code of Conduct. In addition to the prohibited conduct listed below, the College may, from time to time, promulgate regulations or policies that pertain to specific situations. The SFC will introduce risk mitigation requirements for non-centrally cleared OTC derivatives as conduct requirements on LCs to be included in a new Schedule 10 to the Code of Conduct. 1.3 The Act requires the Scottish Ministers to lay before Parliament a Code of Conduct for Councillors and a Model Code for Members of Devolved Public Bodies. SFC’s Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission (the Code of Conduct) 2.1 Standards 2.1.1 A sponsor should deal with the regulators in a truthful, cooperative and prompt manner. Securities and Futures Commission54/F, One Island East18 Westlands Road, Quarry Bay, Hong Kong, Tel +852 2231 1222 As provided in paragraph 35 of the Consultation Conclusions, the New Clause is unlikely to be applicable in a standard corporate finance mandate. First, there is overlap between the Code of Conduct and the FMCC, and … In late 2016, the SFC conducted a thematic review of algo trading in Hong Kong to assess whether firms are complying with the Code of Conduct. The SFC licensed corporations subject to specified risk mitigation requirements are set out in a new Schedule 10 to the Hong Kong code of conduct. SFC's Fund Manager Code of Conduct The updated terms to the Securities and Futures Commission’s (SFC) Fund Manager Code of Conduct (FMCC) came into effect on November 17, 2018. 3. If adopted, the codes will ensure that young people develop good sporting behaviours and have an […] Laytown United Schoolboy’s/girls Football Club < Laytown United SFC Code of Conduct . Why you can trust SCMP. The SFC also issued relevant FAQs in the Appendix to … C. The conduct listed below constitutes grounds for disciplinary action. Seminar 4 SFC Code of Conduct 30th September 2019 Agenda of the Day • SFC Code of Conduct • The case of Selina Kwok vs HSBCPB • SFC: 1 CPT . Intermediaries are expected to make available revised client agreements expeditiously to enable existing clients to enter into revised client agreements (by way of amending / replacing their existing agreements) as soon as possible. However, the SFC has no objection to minor and inconsequential drafting amendments to the New Clause which modify the references of ''we'' to ''the Firm'', ''you" to "the Customer" and "agreement" to "Terms" etc. These include the discretion to waive the need to enter into a client agreement when dealing with these classes of investors under the new paragraph 15.4 of the Code (for an intermediary serving a Corporate PI to be exempt, it should observe the assessment requirements under the new paragraph 15.3A and comply with the new paragraph 15.3B of the Code). Learn more about our, Academic and Accreditation Advisory Committee, Committee on Real Estate Investment Trusts, Share Registrars' Disciplinary Appeals Committee, Mainland-Hong Kong Mutual Recognition of Funds, Cooperative arrangements with the CSRC and Mainland exchanges, Cooperative arrangements with other Mainland regulators, Investigatory assistance and exchange of information, Public enquiries: Further guidance and sources of information, Companies (Winding Up and Miscellaneous Provisions) Ordinance exemptions, Guidelines on Disclosure of Inside Information, Disciplinary proceedings before the Takeovers Panel, Types of intermediary and licensed individual, Register of licensees & registered institutions, List of modifications or waivers of licensing requirements, List of jurisdictions with comparable OTCD margin requirements, List of publicly offered investment products, Specific information about unlisted structured investment products, List of recognised jurisdiction schemes and inspection regimes, List of registered open-ended fund companies, Register of Automated Trading Services Authorized Under Part III of the Securities and Futures Ordinance, List of Designated Central Counterparties for the Purposes of Mandatory Clearing Under Part IIIA of the Securities and Futures Ordinance, Aggregated reportable short positions of specified shares, Securities and Futures Ordinance (with subsidiary legislation), Companies (Winding Up and Miscellaneous Provisions) Ordinance (with subsidiary legislation), Securities and Futures Ordinance Part XV - Disclosure of Interests, List of eligible jurisdictions for remote onboarding of overseas individual clients, Anti-money laundering and counter-financing of terrorism, Other publications and information sources, Minimum information to be provided and warning statements, Open-ended Fund Company: The corporate investment fund vehicle in Hong Kong, High shareholding concentration announcements, CFTC exemption to deal directly with U.S. customers, Business continuity/contingency information, The Investor Compensation Company Limited. means the Code of Conduct for Persons Licensed by or Registered with the SFC as amended, supplemented and/or modified from time to time; The SFC will introduce risk mitigation requirements for non-centrally cleared OTC derivatives as conduct requirements on LCs to be included in a new Schedule 10 to the Code of Conduct. The CA also considered the SFC Code of Conduct, which it regarded as setting out the benchmark standards in the financial services industry and the “embodiment of the business conscience”, to which a court was entitled to make reference in assessing unconscionability under the UCO. Should an intermediary still choose to enter into a client agreement with such a client for business efficacy or other valid reasons, it would not be obliged to include the New Clause given that the requirement for an agreement can be waived under the Code in the first place. History. Intermediaries should include the New Clause in the client agreements unless they are entitled to exemptions as explained in paragraphs 35 and 36 of the Consultation Conclusions. Securities and Futures Commission 54/F, One Island East 18 Westlands Road, Quarry Bay, Hong Kong Revised SFC Fund Manager Code of Conduct Independent Valuation Review The revised SFC’s Fund Manager Code of Conduct ("FMCC") which came into effect on 17 November 2018 requires that a fund manager to perform a periodic review (at least annually) of their valuation policies, procedures and processes. As with many regulatory change projects, implementation is no longer “the end” of the road; rather, it is a beginning of sorts for Hong Kong’s fund management community. Email enquiry@sfc.hk, We use cookies to improve the website performance and user experience. Quinns FC abides by the Codes of Conduct set by Football West for all players, coaches and parents. This The SFC Code of Conduct provides a framework to drive continuous improvement in health and safety and product stewardship. Define SFC Code of Conduct. SFC to keep closer eye on derivatives traders Topic | SCMP Reporter Published: 12:00am, 11 May, 1995. The term “Institutional Professional Investors” is defined in paragraph 15.2 of the Code to mean persons falling under paragraphs (a) to (i) of the definition of “professional investor” in section 1 of Part 1 of Schedule 1 to the Securities and Futures Ordinance (“SFO”). Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission (“Code of Conduct”) This FAQ aims to provide guidance on application of paragraphs 8.3 (b) (ii), 8.3A (a) (iii) and 8.3A (b) of the Code. Now, the SFC has decided that paragraph 1.4 will be deleted, meaning that fund managers must comply both with the Code of Conduct and the FMCC. The SFC proposes to regulate the operation of ALPs by including a set of requirements in the Code of Conduct that are similar to the conditions currently imposed upon the licences of ALP operators. of the codes. Under the Securities and Futures Ordinance (SFO) (section 169), the SFC has specific power to publish codes of conduct for the purpose of giving guidance relating to the practices and standards with which intermediaries and their representatives are expected to comply. means the Code of Conduct for Persons Licensed by or Registered with the SFC as amended, supplemented and/or modified from time to time; our Code of Conduct has been divided into seven sections: Corporate Governance, Human Rights, Labour, Business Ethics, A Human-Centred Approach, Contributing to Society and Environment. by negative consent approach or by re-executing the agreement) and intermediaries should seek legal advice on this if in doubt. Paragraph 8 of the Appendix to the Management, General Principles 2 and 6 of the Code of Conduct provide that a licensed corporation should act in the best interests of clients and avoid conflicts of interest. While the SFC has several sets of guidelines governing how banks and brokers handle transactions, it is seeking to frame a detailed code of conduct for … The implementation deadline for the SFC (Securities & Futures Commission) Fund Manager Code of Conduct (FMCC) is now about one month away for fund managers with operations in Hong Kong. The EU Code of Conduct is providing a robust response to illegal hate speech online. Now, the SFC has decided that paragraph 1.4 will be deleted, meaning that fund managers must comply both with the Code of Conduct and the FMCC. With the regulation now in force, there are a number of activities firms should … General Principle 2, Diligence, SFC Code of Conduct, which provide that in conducting its business activities, a licensed or registered person should act with due skill, care and diligence, in the best interests of its clients and the integrity of the market; and Prohibited conduct includes, but is … Introduction . All employees (including directors and office bearers), members, and their guests must comply with the code of conduct of Schofields Flying Club Limited and its associated entities as follows: 1. For further guidance relating to these paragraphs, please also refer to the FAQ issued on 16 November 2017. SFC Important Codes and Guidelines on Business Conduct. And as we prepare our hearts for the IslandCon, let us also be reminded of our SFC Code of Conduct in online activities. Q1: Should the authorization status (that is, whether or not the product or offering document has been authorized by the Commission) form part of the “relevant material information” which is required to be disclosed to the clients by the licensed or registered persons under the Code of Conduct? About the SFC Regulatory functions Rules and standards Published resources News and announcements Career Search. C. The conduct listed below constitutes grounds for disciplinary action. As a standard corporate finance mandate essentially covers all corporate finance activities falling within the definition of advising on corporate finance in Part 2 of Schedule 5 to the SFO, an intermediary conducting corporate finance activities should generally be able to rely on paragraph 6.4 of the Code given the limited nature of the services provided. 29.2 – SFC’s Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission (Code of Conduct) 29.3 – SFC’s Corporate Finance Adviser Code of Conduct (the CFA Code) 29.4 – Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (The Listing Rules) Share to: Overview. SFC's Fund Manager Code of Conduct The updated terms to the Securities and Futures Commission’s (SFC) Fund Manager Code of Conduct (FMCC) came into effect on November 17, 2018. Define SFC’s Code of Conduct. In order to ensure compliance with the notification requirement of Paragraph 12.5 of the Code of Conduct, the SFC recommends that all intermediaries should review their incident escalation and reporting mechanisms and implement appropriate controls. Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission (the “Code”). Eng ... Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission (the “Code”) This FAQ aims to provide guidance on the application of paragraph 6.2(i) of the Code. Praise God for more than 3000 delegates who registered! The deadline of November 18, 2018, has now passed for the SFC FMCC. Now you can attend your CPT / CPD training online anytime anywhere and even on your smartphone or tablet! Accredited by the Law Society of Hong Kong. While the SFC has several sets of guidelines governing how banks and brokers handle transactions, it is seeking to frame a detailed code of conduct for … As these mechanisms and controls are ordinarily found within an intermediary’s regulatory compliance manual, intermediaries should consider whether any changes, by the intermediary, are required to existing internal policies and procedures. It applies to anyone licensed by or registered with the SFC to carry out asset management activities in Hong Kong. On 8 November 2011, the Securities and Future Commission (SFC) issued a consultation paper on proposals to amend the Code of Conduct for Persons Licensed by or Registered with the SFC. Under the Code, the bank was required to take into account customers’ investment … 06 December 2011, Investment Funds, Newsletter by Jane McBride. The Securities and Futures Commission (SFC) has published a consultation paper (SFC Consultation Paper) the main focus of which is proposed amendments to the Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission (the Code) in relation to the proposed establishment of a Financial Dispute Resolution Centre Ltd (FDRC) by the Government of Hong Kong to handle monetary disputes between financial institutions and their individual and sole proprietorship cus… General Principles 2 and 6 of the Code of Conduct provide that a licensed corporation should act in the best interests of clients and avoid conflicts of interest. This introduces two problems. Intermediaries shall have regard to the definition set out in the SFO in determining whether their clients could be treated as Institutional PIs for the purpose of complying with paragraph 6.2(i) of the Code. Application of paragraph 6.2 ( i ) of the Code of Conduct by! 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