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HK: SFC – Best Execution

The SFC Code of Conduct obliges Licensed Corporations to attain Best Execution for client orders. The Code of Conduct is augmented by the Thematic Review on Best Execution published in Jan 2018 and covers:

  1. Governance and management supervision
  2. Best execution factors
  3. Applicability of best execution
  4. Responsibilities of execution staff
  5. Controls and monitoring
  6. Arrangements with affiliates, connected parties and third parties

Our SFC Best Execution Governance solution enables clients to ensure they are cognisant of the regulator’s expectations and record their level of compliance.

The Dynamic-GRC Best Execution Governance solution is the quickest and best value way for a licensed firm to get a comprehensive record of their level of compliance and ascertain how far they can cover shortfalls.

HK: SFC – Client Suitability

The SFC Client Suitability rules add a lot of detail to the Code of Conduct (CoC) but they apply to all non-Professional Investors.

Our Client Suitability solution enables clients to ensure they can evidence compliance with the regulatory requirements:

  1. Client Investment Profile: Assess and periodically update the investment requirements and expectations of each client
  2. Product Due Diligence: Ensure all products offered to clients are understood and periodically reviewed
  3. Recommendations: Show that each investment recommendation was suitable

GRC-Maestro keeps the records you need to show: the who, what, when and why regarding Client Suitability.

HK: SFC – Manager-in-Charge

The SFC Manager-in-Charge (MIC) rules are onerous but it is necessary to fully comply and to be able to prove your compliance.

Our SFC MIC solution enables clients to ensure they identify the people filling the MIC roles, record their details/organisation chart, formalise Board approval of the information prior to SFC submission and periodically check for ongoing compliance.

GRC-Maestro keeps the records you need to show: the who, what, when and why regarding MIC compliance. Your MIC can change, as can your compliance team, but your firm remains able to historically prove its compliance.

HK: SFC – Online Distribution & Advisory

The SFC Guidelines regarding Online Distribution and Advisory Platforms formalise their requirements and expectations regarding investment advisors utilizing technology to give investment advice.

Our Online Distribution/Advisory solution enables firms to ensure they can evidence compliance with the regulatory requirements:

  1. Design: Record and formalize the design of the systems/algorithms used
  2. Risk Management: Evidence the risk management checks and controls in place to protect customers
  3. Governance/capabilities/resources: Assess the operational requirements to safely operate the systems/algorithms
  4. Review/monitoring: Periodically assess the performance of the systems/algorithms against operational expectations
  5. Record keeping: Maintain the information required by the SFC to evidence full compliance with the Guidelines

GRC-Maestro keeps the records you need to show: the who, what, when and why regarding Online Distribution and Advisory Platforms.

Related Resources

HK: SFC – Client Suitability
HK: SFC – Online Distribution/Advisory