... conducted orderly and in accordance with policies formulated by the Board of Directors or senior management. They also verify compliance with the standing requirements on maintenance of assets in Hong Kong, corporate governance, as well as selling of insurance policies to Mainland visitors. OCI Annual...

... limited to: 25 (a) prudent management of funds for authorized business under the Ordinance or other regulations; and (b) maintenance of separate set of books and accounts for policy holder funds. 7.7 Reinsurance and Risk Transfer 7.7.1 The ERM framework should include a risk management policy on...

... business needs. 7.6.4 Policy holder funds should be prudently managed. Where appropriate, and without limitation, there should be procedures which address the following matters: (a) the prudent management of funds for authorized business under the Ordinance or other regulations; and (b) the maintenance of...

... risks identified; (b) appoint a director or senior manager as a CO who has overall responsibility for the establishment and maintenance of the FI’s AML/CFT systems; and (c) appoint a senior member of the FI’s staff as the MLRO who is the central reference point for suspicious transaction reporting. 2.12...

... perform certain parts of his duties as an air- conditioning repairer during his last 22 days of sick leave. It thus concluded that the insurer’s decision to pay Temporary Partial Disability benefit for the last 22 days was fair and reasonable. Remarks: as a personal accident policy normally provides...

... improved condition, the Complaints Panel agreed that the insured should be able to perform certain parts of his duties as an air-conditioning repairer during his last 22 days of sick leave. It thus concluded that the insurer’s decision to pay Temporary Partial Disability benefit for the last 22 days was...

... perform certain parts of his duties as an air-conditioning repairer during his last 22 days of sick leave. It thus concluded that the insurer’s decision to pay Temporary Partial Disability benefit for the last 22 days was fair and reasonable. Remarks: as a personal accident policy normally provides...

... to reflect the current market value. For example, a futures broker should mark its clients’ open position regularly to ensure that margin calls would be made if the clients’ margins fall short of the maintenance margin. Frequent marking to market should be performed especially when there is a...

... calls would be made if the clients’ margins fall short of the maintenance margin. Frequent marking to market should be performed especially when there is a dramatic move in the market. (ii) Limit Setting Market risk exposure of a financial intermediary can be limited by setting trading limits. For...

... ensure that margin calls would be made if the clients’ margins fall short of the maintenance margin. Frequent marking to market should be performed especially when there is a dramatic move in the market. (ii) Limit Setting Market risk exposure of a financial intermediary can be limited by setting trading...