The Commission regulates company management business in accordance with the Companies Management (Licensing) Ordinance, the Financial Services Commission Ordinance 2007, Proceeds of Crime Anti Money Laundering/Prevention of Terrorist Financing Regulations 2010 and AML/PTF Code 2011.
Ongoing supervision of the activities of Company Managers and Agents is the responsibility of the Commission which must:
- Maintain a general review of the sector;
- Ensure compliance with the law;
- Examine applications and make recommendations on whether to approve or disapprove applications for a licence;
- Conduct on-site reviews to test practices and procedures for effectiveness of control and compliance.