HONG-KONGgovernance-controlsregulatory-textVerified 2026-07-31

SFC Management, Supervision and Internal Control Guidelines — selected text

Working briefRegulatory text

Applies to

Collective investment schemes

Owner

Operator and designated control owner

Effect / trigger

Effective upon the SFO commencement on 2003-04-01; check the SFC's current published version

Evidence

Official text, applicability record and approval trail

Legal effect

Operational guidance (non-binding)

Site review

Draft / under review

Source version / verified

April 2003 · Verified 2026-07-31

To respect republication controls, this site neither reproduces the complete Guidelines nor mirrors the official PDF.

一级来源

原文概要

The Guidelines set out the SFC's overall expectations for the management, supervision and internal controls of licensed or registered persons, linking management responsibility, segregation, training, information, compliance, audit, daily operations and risk management. They do not have the force of law, but material departure may affect fitness and properness; the suggested techniques must also be adapted to each firm's structure, scale and risks.

发布机关

Securities and Futures Commission

法律层级

Regulatory guideline

翻译范围

Document overview and six short extracts on management, segregation, information, audit and reconciliation

使用权限

转载须另行许可

Editorial translation / 非官方译文

The Chinese text below is an unofficial editorial translation for learning and research. If it differs from the official English text, the English text prevails. Verify the current primary source before relying on it.

Selected text / 条文精选

中文： 以下仅摘录与基金管理人治理、职能分离、信息管理、审计及对账直接相关的短段，并提供本站编辑译文。条文须结合证监会守则、牌照条件及机构实际业务阅读。

English: These short extracts focus on governance, segregation, information management, audit and reconciliation for fund managers. The Chinese text is an editorial translation; read the Guidelines with the applicable SFC codes, licence conditions and the firm's actual business.

Status and senior-management responsibility / 效力与高管责任

Regulatory passage

Introduction, paragraphs 2–4 / 引言第2至4段#

SourceHK-SFC-INTERNAL-CONTROLS-2003

English original

“… do not have the force of law …”

Editorial Chinese translation

“……不具有法律效力……”

Translation note

The introduction adds that material failure to follow the guidance may affect fitness and properness, and that Management remains ultimately responsible for the adequacy and effectiveness of internal controls.

Regulatory passage

Part I, Control Guideline 1 / 第一部分监控指引第1项#

SourceHK-SFC-INTERNAL-CONTROLS-2003

English original

“… full responsibility …”

Editorial Chinese translation

“……全部责任……”

Translation note

Management's responsibility covers the firm's operations, the development, implementation and continuing effectiveness of internal controls, and adherence by directors and employees.

Segregation and information / 职能分离与信息

Regulatory passage

Part II, Control Guidelines 2–3 / 第二部分监控指引第2至3项#

SourceHK-SFC-INTERNAL-CONTROLS-2003

English original

“… effectively segregated …”

Editorial Chinese translation

“……有效分离……”

Translation note

Where practicable, sales, dealing, accounting and settlement are separated; compliance and internal audit should also be independent of operations and related supervision and report directly to Management.

Regulatory passage

Part IV, Objective and Control Guideline 6 / 第四部分目标及监控指引第6项#

SourceHK-SFC-INTERNAL-CONTROLS-2003

English original

“… record retention policies …”

Editorial Chinese translation

“……记录保存政策……”

Translation note

The information-management controls require secure and reliable information and retention policies that meet legal and regulatory requirements and enable routine or ad hoc reviews and investigations.

Audit and reconciliations / 审计与对账

Regulatory passage

Part VI, Objective and Control Guideline 4 / 第六部分目标及监控指引第4项#

SourceHK-SFC-INTERNAL-CONTROLS-2003

English original

“… resolved satisfactorily …”

Editorial Chinese translation

“……获得妥善解决……”

Translation note

The audit section calls for objective review of management, operations and internal controls, timely reporting of findings and recommendations, and follow-up of highlighted matters or risks.

Regulatory passage

Part VII, Control Guideline 10 / 第七部分监控指引第10项#

SourceHK-SFC-INTERNAL-CONTROLS-2003

English original

“Regular reconciliation …”

Editorial Chinese translation

“定期进行对账……”

Translation note

Internal records and reports are compared with third-party records from clearing houses, banks, custodians, counterparties and executing brokers, with appropriate senior review and approval.

For learning and research only. This material is not legal, tax, investment or compliance advice. Confirm current primary sources and obtain professional advice for specific facts.