Hkma guidance on management responsibility at registered institutions by etelka bogardi hk and nicholas wilson hk on november 3, 2017 posted in banking, regulation and compliance on 16 october 2017, the hong kong monetary authority hmka issued a circular on management responsibilities for hong kong licensed banks which. Supervisory policy manual ir1 interest rate risk in the banking book v. Hong kong personal accountability, culture, risk management. European supervisory authority guidelines central bank. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext. On 6 october 2017, the hong kong monetary authority hkma issued a revised version of supervisory policy manual modules cg1 corporate governance of locally incorporated authorized institutions and ic1 risk management framework the modules. As manager or supervisor, you often have to manage various. Over the past few years, the sfc and the hkma have provided a range of. If reading online, click on blue underlined headings to. The purpose of prudential supervision of banks in south africa is to ensure the safety and soundness of the south african banking system and to contribute to the stability of the financial sector.
Kong monetary authority hkma can best discharge its functions in promoting the. This document is for internal use of first asset financial inc. Supplementary readings hkmas guidelines and irculars to all authorized institutions in hong kong. General risk management controls hkma supervisory policy manual sa 1. My initials above and signature below will certify that i have read, understand and agree to comply with the entire written supervisory procedures manual of the firm. The circular is intended to supplement the existing management prudential regime under the banking ordinance framework. The attached pas supervisory manual provides guidelines for administering the states performance appraisal system pas. Regulation process maps, hkma supervisory policy manual. Supervisory policy manual the hong kong institute of. Hong kong monetary authority supervisory policy manual. It not only offers pragmatic recommendations about the daytoday duties of a supervisor, but also offers guidance for addressing the more complex challenges all managers confront as they seek to effectively communicate, motivate, and model ethical.
Supervisory policy manual crg8 large exposures and risk concentrations v. The effective supervisory practices webinar series is designed as a primer for new supervisors. Supervisory policy manual cad1 guideline on the application of the banking disclosure rules consultation 2 part ii application of the disclosure rules 6. Process maps for hk consolidated regulations banking processes. Statistics and the ssm 3 it structure and data flows 4 data quality 5 challenges for supervisors and for banks 6 conclusion. Business continuity and contingency planning nyse new york stock exchange.
Supervisory policy manual cg5 guideline on a sound remuneration system v. Review of the hong kong monetary authoritys work on banking. Regulatory update hong kong the hong kong monetary authority hkma issued a new supervisory policy manual spm on op risk management in late november. Pdf hong kong and twin peaks financial sector regulation. Assessment of basel iii riskbased capital regulations hong. Hkma issues guidance on management accountability at. Hkma hong kong monetary authority hkma circulars 2014 hkma circulars 20 hkma circulars 2012 hkma circulars 2011 hkma supervisory policy manual hkma guidelines hkma banking policy and supervision cap155 banking ordinance sample process maps for hkma regulations hkma circulars 2010 sfc securities and futures commission sfc codes, guidelines. Wolters kluwer financial services today announced the release of cch policies and procedures written supervisory procedures wsp online, a webbased content management tool that helps both large and small brokerdealers transform the way they assemble and update policies and procedures required by regulators.
Hkma hong kong monetary authority hkma circulars 2014 hkma circulars 20 hkma circulars 2012 hkma circulars 2011 hkma supervisory policy manual hkma guidelines hkma banking policy and supervision cap155 banking ordinance. Oct 27, 2017 also today, the hkma issued a circular requiring registered institutions to enhance the security of their internet trading services having regard to the requirements in the sfcs guidelines. Each member state shall provide for one or more independent public authorities to be responsible for monitoring the application of this regulation, in order to protect the fundamental rights and freedoms of natural persons in relation to processing and to facilitate the free flow of personal data within the union supervisory authority. I have either been provided a hard copy or i have ready access to an. Sfc and hkma address hacking risks associated with internet. The current management and supervisory evaluation policy. The hkma supervises a major international financial center which. Hkma, supervisory policy manual, supervision of ebanking tme1 v. The hkmas supervisory policy manual includes a chapter on outsourcing sa2, which is a. All firms within the scope of these guidelines are expected to comply from 1 august 2015. Rubric 2 regulatory reporting in the light of the ssm 1 2 supervisory statistics. To set out the hkmas supervisory approach to outsourcing and the major.
Temporary out of stock estimated delivery within 15 days. Each member state shall provide by law for all of the following. Organisation, activities and deliverables introduction. Supervisory committee manual for federal credit unions volume 8023 of ncua series volume 8023 of ncua, united states national credit union administration.
Indeed, a zone of discretion is remaining within the ncas supervisory actions insofar as both ex ante and ex post control mechanisms are not entirely effective in aligning their actions with the ecbs supervisory directions. To protect against insider trading abuse, every registered dealer and investment brokeradvisor is required to establish and enforce written supervisory procedures covering this topic pursuant to section 15f of the 1934 securities act. In addition, the advancedapproaches riskbased capital rules 12 cfr 3, appendix c. Supervisory policy manual this manual sets out the hkma s latest supervisory policies and practices, the minimum standards authorized institutions ais are expected to attain in order to satisfy the requirements of the banking ordinance and recommendations on best practices that ais should aim to achieve. Russia and saudi arabia, largely resulting from a buildup of foreign exchange reserves in the wake of experiences during the asian financial crisis of 1997 1998. Naco rma llc expects all associated persons to be thoroughly familiar with the policies and procedures as set forth in this manual.
This manual draws upon the supervisors manual from the world health organizations multi country study on women is health and domestic violence against women watts and jansen, 2007 that in turn used material from training manuals developed for other household surveys by. The european banking authority eba publishes a list of its consumer protection and financial innovation related technical standards, guidelines, recommendations, opinions, reports, and other publications here european insurance and occupational pensions authority. On 16 october 2017, the hong kong monetary authority hkma issued a circular, a set of frequently asked questions faqs and an appendix together the guidance setting out its expectations in relation to management accountability at registered institutions ris for conducting or supervising the conduct of businesses. Please note that the attached manual is intended as a guide for supervisors. The short course in supervisory management skills provides you with the necessary knowledge and insights to become successful in any supervisory position by focusing on and improving important managerial skills. Today, id like to follow up on the institutes very successful business ethics forum in. The hkmas riskbased capital rules bcr apply to all 57 locally incorporated authorised institutions. Hkma supervisory policy manual, general principles for technology risk management tmg1 v. Written supervisory procedures manual table of contents introduction abbreviations used in this manual 1. Prudential supervision of banks in the south african context. Riskbased supervisory approach hkma supervisory policy manual or1. Nov 01, 2017 on 6 october 2017, the hong kong monetary authority hkma issued a revised version of supervisory policy manual modules cg1 corporate governance of locally incorporated authorized institutions and ic1 risk management framework the modules. Regulatory reporting in the light of the ssm 1 2 supervisory statistics.
Speech integrity in financial markets and sfcs enhanced. The hong kong monetary authority hkma has published a new supervisory policy manual module on credit risk transfer activities, in a bid to help banks to set up a sound risk management system for such activities. Supervisory management skills enterprises university of. Ecas special report on the single supervisory mechanism.
Hkma reporting regulation london stock exchange group. Wolters kluwer financial services introduces cch policies and. Supervisory policy manual ic3 reporting requirements rela ting to authorized institutions external auditors under the banking ordinance consultation 1 this module should be read in conjunction with the introduction and with the glossary, which contains an explanation of abbreviations and other terms used in this manual. This manual sets out the hkmas latest supervisory policies and practices, the. Federal reserves trading and capitalmarkets activities manual also discusses validation and model risk management. Significant dates,fines,penalties need to provide alternative service. The hkma is maintaining its commitment to the international regulatory reform agenda. European supervisory authority guidelines central bank of. On 16 october 2017, the hong kong monetary authority hmka issued a circular on management responsibilities for hong kong licensed banks which conduct regulated activities registered institutions. It is a government authority founded on 1 april 1993 when the office of the exchange fund and the office of the commissioner of banking merged.
All naco rma llc associated personsare required to sign an acknowledgement of hisher understanding of the policies and procedures as stated herein upon hiring and annually thereafter. Who are the principals charged with supervisory responsibilities. Wolters kluwer financial services introduces cch policies. Supervisory committee manual for federal credit unions. Ecas special report on the single supervisory mechanism a summary of the main findings this briefing is prepared in view of the joint contecon meeting on february 2017 from 20. Sfc and hkma address hacking risks associated with. Introduction the banking union is the result of unavoidable legal contortions and political compromises. Hktrrpt administration and interface development guide. Supervisory procedures manual, which governs the conduct of your employees, is to include but. Integrity in financial markets and sfcs enhanced supervisory approach hksi institutes sfc executive director series james shipton executive director 5 march 2015 thank youit is an honour to be here today. Prudential supervision of banks in the south african. Supervisory authority general data protection regulation. The administration and interface development guide aidg package contains technical specifications to be observed by users subscribing to and making use of the reporting service. On 16 october 2017, the hong kong monetary authority hkma issued a circular, a set of frequently asked questions faqs and an appendix together the guidance setting out its expectations in relation to management accountability at registered institutions ris for conducting or supervising the conduct of businesses that constitute regulated.
The securities and futures commission sfc and the hong kong monetary authority hkma recognise the need for effective cybersecurity management as cyber risk poses an increasingly significant threat to the integrity, efficiency and soundness of financial markets worldwide. The modules and related circular of the hkma can be found here. This manual is the property of first asset financial inc. Aws user guide to the hong kong monetary authority awsstatic. Mar 05, 2015 integrity in financial markets and sfcs enhanced supervisory approach hksi institutes sfc executive director series james shipton executive director 5 march 2015 thank youit is an honour to be here today. The central bank of ireland intends to comply with the guidelines, and will incorporate them into its ongoing supervisory practices and processes for psps. Hkma publishes new supervisory policy manual on credit risk. Supervisory policy manual hong kong monetary authority. Hkma publishes new supervisory policy manual on credit. One key control, the implementation of twofactor authentication for clients to login to their internet trading accounts, will take effect on 27 april. The hkma said the new guidance incorporates the latest international standards and practices in the risk management of credit risk transfer activities. Annual written supervisory procedures certification. Introduction on the path towards establishing the single supervisory mechanism ssm, it is essential to discuss and define meaningful data needs one of the most for significantprojects in banking supervision. Supervisory policy manual or1 operational risk management v.1098 213 493 492 105 608 217 1129 58 131 243 1285 612 412 1444 301 566 1458 1603 938 1101 950 921 1337 231 284 119 233 1491 537 861 1273 850 1060 465 1300 1336 933 756 28 1424 712