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Representative Form Ircc
"I need a Representative Form IRCC for our Hong Kong asset management firm to appoint ABC Securities Limited as our IRCC representative, with specific provisions for handling both institutional and retail clients, to be effective from March 1, 2025."
1. Parties: Identification of the Principal and the Representative IRCC, including full legal names, registration numbers, and registered addresses
2. Background: Context of the appointment and brief description of the parties' business activities
3. Definitions: Key terms used throughout the agreement, including regulatory terms specific to Hong Kong securities law
4. Appointment and Scope: Formal appointment of the IRCC and detailed scope of representation authority
5. Regulatory Compliance: Obligations to comply with Hong Kong securities laws and regulations, particularly SFO requirements
6. Duties and Responsibilities: Specific duties of the IRCC, including reporting, record-keeping, and client interaction obligations
7. Term and Termination: Duration of the appointment and circumstances under which it can be terminated
8. Confidentiality: Obligations regarding confidential information and compliance with privacy laws
9. Indemnification: Mutual indemnification provisions and liability limitations
10. Governing Law and Jurisdiction: Specification of Hong Kong law as governing law and jurisdiction for disputes
1. Foreign Law Compliance: Additional provisions for cross-border activities, used when the IRCC operates in multiple jurisdictions
2. Professional Insurance: Requirements for professional indemnity insurance, included when specifically required by the nature of services
3. Sub-delegation: Terms for appointing sub-representatives, included when sub-delegation is permitted
4. Service Levels: Specific performance metrics and standards, included for more complex representation arrangements
5. Data Protection: Enhanced data protection provisions, included when handling sensitive personal data
6. Force Majeure: Provisions for unforeseen circumstances, included for longer-term arrangements
1. Schedule 1 - Scope of Services: Detailed description of authorized activities and representation scope
2. Schedule 2 - Fee Schedule: Breakdown of fees, charges, and payment terms
3. Schedule 3 - Compliance Requirements: Specific regulatory requirements and compliance procedures
4. Schedule 4 - Authorized Personnel: List of authorized representatives and their credentials
5. Appendix A - Required Forms: Standard forms and documentation required for the representation
6. Appendix B - Reporting Templates: Templates for required periodic reports and notifications
Authors
Financial Services
Securities Trading
Investment Banking
Asset Management
Corporate Finance
Wealth Management
Financial Technology
Professional Services
Banking
Insurance
Legal
Compliance
Risk Management
Operations
Regulatory Affairs
Finance
Corporate Governance
Investment Operations
Client Services
Due Diligence
Compliance Officer
Legal Counsel
Risk Manager
Chief Operating Officer
Regulatory Affairs Director
Company Secretary
Financial Controller
Operations Manager
Chief Executive Officer
Head of Trading
Investment Manager
Relationship Manager
Due Diligence Officer
Regulatory Reporting Manager
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