Exercising Supervisory Functions Sample Clauses
Exercising Supervisory Functions. 7.2.1 The HKMA is the frontline supervisor of registered institutions. It is responsible for the day-to-day supervision of the carrying on of regulated activities by registered institutions. This includes:-
(a) performing, in a manner comparable to that adopted by the SFC in relation to licensed corporations, on-site inspections of registered institutions and, where appropriate, their associated entities and related corporations to ascertain their compliance with applicable legal and regulatory requirements;
(b) conducting off-site reviews, including analysis of information submitted by registered institutions as well as other data collected on an ad hoc basis;
(c) conducting background checks on any individual as appropriate before giving consent to his being an executive officer of a registered institution or otherwise entering his particulars in the register referred to in clause 6.3.2;
(d) handling, in accordance with the procedures set out under clause 8, complaints relating to the carrying on of any regulated activities by registered institutions;
(e) where appropriate, issuing guidelines or guidance notes to elaborate on the application of the SFO and the BO, as well as the rules, codes, guidelines and other guidance made or published by the SFC, to the carrying on of regulated activities by registered institutions; and
(f) where appropriate, authorizing any person under section 180 of the SFO to conduct an inspection of a registered institution, or any of its associated entities or any related corporation of either.
7.2.2 The HKMA will serve as the first point of contact for registered institutions and handle enquiries from registered institutions and their associated entities and their staff in relation to the supervision of regulated activities.
7.2.3 In interpreting the rules, codes, guidelines and other guidance made or published by the SFC, the HKMA will, where appropriate, consult the SFC and draw reference from the experience of the SFC in applying such requirements to licensed persons.
Exercising Supervisory Functions. The Union agrees that there will be no undue interference with, intimidation of, coercion attempted on, or Union disciplinary action initiated against employees who are members of the bargaining unit by or on behalf of the Union or any of its members because of the exercise of an employee’s supervisory functions in relation to bargaining unit members which are part of the employee’s job and carried out in good faith.