HONG KONG, May 10 /Xinhua-PRNewswire/ -- The Hong Kong Institute of Chartered Secretaries (HKICS) hosted the ninth ACRU conference at the Hong Kong Convention and Exhibition Centre on 9th May 2008. The event was, once again, strongly supported by the Hong Kong's regulators with Companies Registry (CR), Hong Kong Exchanges and Clearing Limited (HKEx), Hong Kong Monetary Authority (HKMA) and Securities and Futures Commission (SFC) briefing HKICS members and other professionals on the latest developments in their respective areas.
ACRU is traditionally the most popular and largest professional development programme run by the Institute every year. This year was no exception, and with over 800 delegates in attendance.
One of the topics covered by the representatives from the SFC included recent issues in enforcement (with special attention to corporate governance). The CR covered a broad area including statutory provisions and requirements for non-Hong Kong companies, new incorporation procedures and administration requirements as well as common errors in documents lodged with the CR. HKEx covered the listing policy on current initiatives and latest developments. The final session was presented by the HKMA and it reviewed international anti-money laundering and counter-terrorist financing regimes.
As usual the Q&A session produced some lively interchange between regulators and practitioners as the latter posed candid questions to the various representatives of the regulators.
"One of the issues discussed during the conference was anti-money laundering (AML) and counter-terrorist financing (CFT). The Institute has been active in supporting the government's AML initiatives including publishing AML/CFT guidelines for members and working closely with the Narcotics Division, Joint Financial Action Task Force and the police to advise the government on the drafting of an AML and CFT bill for Hong Kong. Chartered Secretaries have been authorised as suitable certifiers by HKMA for opening bank accounts since last year and I think ARCU provided an excellent opportunity for members to learn more and ask the HKMA representatives questions about AML," said Mr. Richard Leung, Immediate Past President and Chairman of Professional Development Committee, HKICS.
"ACRU provides a unique chance for regulators and practitioners to exchange information and ideas directly," said Mrs. Natalia Seng, President of HKICS. "Such first-hand information from the key regulators on the latest developments and changes in corporate law and practice is extremely useful to our members and those from the legal and accounting professions who also attend and support this conference. I am delighted with the continued success of ACRU which is now a key fixture on the calendar of the business community."
"On behalf of HKICS I would like to thank the CR, HKEx, HKMA, SFC and the various professional bodies for their help in making ACRU 2008 a success," continued Mrs. Seng.
ACRU forms part of the Institute's Enhanced Continuing Professional Development Programme which is endorsed by HKEx. HKICS is also a SFC recognised institution to provide continuous professional training.
About The Hong Kong Institute of Chartered Secretaries
More than meets the eye.
The Hong Kong Institute of Chartered Secretaries is an independent professional body with more than 5,000 members and approximately 2,500 students. It is dedicated to the promotion of its members' role in the formulation and effective implementation of good corporate governance policies in Hong Kong and throughout China as well as the development of the profession of Chartered Secretary.
The Institute was first established in 1949 as an association of Hong Kong members of the Institute of Chartered Secretaries and Administrators (ICSA) of London. It became a branch of ICSA in 1990 before gaining local status in 1994.
For enquiries, please contact:
Ms Elaine Cheung
Tel: +852-2881-6177
Fax: +852-2881-5050
Email: elaine@hkics.org.hk
Website: http://www.hkics.org.hk
