The Internal Control Guidelines state that a licensed corporation should establish, document and maintain an effective management and organisational structure. The SFC thus requires the Board to approve a formal document setting out the licensed corporation's management structure, including the roles, responsibilities, accountability and for the Securities and Futures Commission Annual Report to the Financial Secretary for 2008-09. i transparency of the SFC's internal processes across the board, so that the adequacy of the SFC's internal procedures and operational guidelines Guidance information If you're looking for specific guidance that you can't find here or in the Sector Communications listing please contact: webmaster@sfc.ac.uk.. Deadlines Go to our Deadlines page for a complete listing of all our deadlines for submitting information, consultation responses, vacancies etc. 9. In addition, the Management, Supervision and Internal Controls Guidelines for Persons Licensed by or Registered with the SFC (Internal Control Guidelines) requires that key components of the information system design and implementation programme are adequately documented and regularly reviewed for effectiveness. 10. SFC compliance and licensing hints. 25 April 2017 the SFC reprimanded and fined a licensed company HK$2 million for regulatory breaches and internal control failures. The Statement of Disciplinary Action has some useful pointers on what is the SFC's expectation of adequate internal Morgan Stanley Engages Independent Expert after Hong Kong Fine. It has agreed to engage an independent expert to oversee its internal controls in future. SFC's Investigation. no clients' consents were obtained in breach of the internal control guidelines. Its failures to separate agency the Sponsor Guidelines, which set out continuing compliance requirements, including specific competence requirements as well as the responsibilities of management and sponsor principals. Sponsors are