icsi conference

ICSI Conference

Hong Kong

12 May 2008

Natalia SengPresidentHKICS

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HKICS Structure

• HKICS: Integral part of ICSA– Local independent professional body

• Local discipline• Local knowledge/expertise/experience

• Membership is divided into:– Ordinary members– International members

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HKICS Structure

– Approx. 5000 members/graduates– Approx. 2,600 students • Issues own post-nominals (FCS & ACS) plus

ICSA post-nominals (FCIS & ACIS)• Local post nominals equate to local knowledge• Gives regulators assurance • Local knowledge & expertise but with

international outlook• International qualification enhances ability to

attract students (not least on the Mainland)

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1. Hong Kong Exchanges & Clearing Limited : Listing rules Ordinary Members as CoSecs.

2. Direct Access to Bar (Hong Kong Bar Association)

3. Official Receiver’s Officei.e. act as Trustees in bankruptcy

4. Companies OrdinanceProfessional Company Secretary

Recognition

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Recognition

5. Authorised by HKMA to certify banking documents

6. Hong Kong Council for Academic Accreditation

7. LawSoc, SFC – CPD provider8. Other professional bodies

– e.g. HKICPA, LawSoc, CPA Aust, CIMA, ACCA, HK Bar Association, HKInst. of Arbitrators, HKIHRM, HKIoD…

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HKICS on the MainlandBeijing Representative Office (“BRO”)• 1996 established BRO

– facilitate liaison with PRC regulators, government bodies, organisations and universities

– First HK professional body

Communications:CSJ – official journal (more Chinese)NewswiresWeb siteEmailRegular visits, staff and members

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Mainland (cont.)

• Focus on H-Share Companies – Mainland China incorporated Company

listed on Hong Kong Stock Exchange

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Affiliate Programme (AP) Objectives:• Good governance – Mainland/HK• Enhance Company Secretary Profession• Promote membership• Create career path• Mainland membership critical mass• Take Institute into Mainland

Mainland (cont.)

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AP Target Market:• H-Share Company Secretaries• Immediate subordinates• Students/graduates

Mainland (cont.)

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Mainland (cont.)

Phase II• Expand scope to A & B Share companies • Working with Shanghai Stock Exchange &

Shenzhen Stock Exchange on recognition• CSRC – influence is key

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• Started IQS examinations 2007• Negotiating with Mainland universities re

pre and post graduate corporate governance programmes

Mainland (cont.)

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• Promoting good governance and company secretaries via:

– HKICS Forums and conferences– Training programmes organised by other PRC

and Hong Kong organisations

Mainland (cont.)

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Challenges• Establishing profession on back of Board

Secretary– Senior position (min. DGM)– No formal qualification– Resources– Cut rate CoSecs?

Mainland (cont.)

– Opportunities for HK based members– Duty to expand profession

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THANK YOU !