CPL Seminar - 20180521

       

Benefitted by the positive feedback and members’ encouragement from the first CPL seminar, the two institutes hosted the second CPL seminar on 21 May.

      We had Mr. Vincent Lee (李君豪先生), Hong Kong deputy to the National People’s Congress, former Director of HKEX, Director of Chinese University of Hong Kong (港區全國人大代表, 前港交所董事、現任中文大學董事), as our guest speaker on the topic entitled “The future opportunities and challenges of Hong Kong’s finance industry (香港金融業未來的機遇和挑戰)” . After  finishing the National People's Congress (NPC) in Beijing Mr. Lee shared his experience in attending the Congress and expressed an appreciation of the Chinese government’s dedication to fight corruption and improve administrative efficiency. Coming back to the local finance market, Mr. Lee felt that owing to increased control on AML/CTA in the world, Hong Kong will inevitably become tighter on business operation. Recently, we witnessed difficulty in opening bank accounts, more corporate disclosure, tighter regulatory scrutiny, heavier personal liabilities etc. However, Mr. Lee concluded that Hong Kong would continue to develop and strengthen its financial role for China.    

      The industry sharing session on “How should RO/CO/INEDs face the employment and investigation risks” (RO/CO/非執行董事如何面對就業及調查風險)” was opened by Mr. Simon Cheung (張偉安先生), (OBOR and Cross-Border Committee), who interestingly presented some numbers and statistics regarding RO’s and INED’s responsibilities, risks and salaries. He also suggested ways to tackle cases  under regulatory investigation. Mr. Eric Chan (陳舜權先生), (Certification Committee Chairman), shared with us his personal experience on ways he dealt with the regulator’s allegations and charges. He also advised on the practical steps and resources one may take if an investigation started to take place.