In view of the evolving regulatory regimes in financial laws, and to ensure that the Force keeps abreast of the latest professional knowledge, Solicitor & Senior Director (and Head of Technical and Research) of the Hong Kong Institute of Chartered Secretaries (HKICS), Mr Mohan Datwani, gave a talk to Commercial Crime Bureau (CCB) on the topic, "Directors of Private and Listed Companies - Accountabilities and Liabilities" on April 23. 

 

Mr Datwani pointed out that in Hong Kong any person, not just professionally qualified persons like chartered secretaries, can act as a registered agent to set up a shell company. Those unqualified persons may not conduct proper due diligence and criminals may use the shell companies for illegal purposes. With enactment of the new Companies Ordinance, company secretaries are endowed with more power to oversee matters of company administration and prevent a company from being used as a tool of crime. 

 

Mr Datwani not only shared his insight into investigation of company registration documents, the Ordinance and related laws and regulations, but also elaborated on the importance of good corporate governance in business operations. He also advocated close cooperation among company secretaries, lawyers, accountants and law enforcement agencies.

 

CCB echoed company secretary's vital role in safeguarding public interest and expressed its appreciation of HKICS's contribution to education on fraud prevention and corporate governance. CCB will continue to enhance co-operation with HKICS, boost the Force's knowledge of the industry, and strengthen collaborate with stakeholders in combating crimes.