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The humphead wrasse Cheilinus undulatus is a small but important part of the international trade in live reef food fish, being one of the highest species in unit value. The main threats of the live reef food fish trade to the sustainability of the species are overfishing and the effects of destructive fishing on the target species, non-target species and on the reef environment. In 2004 the humphead wrasse was listed on Appendix II of CITES. With the listing, international trade is only permitted if the export will not be detrimental to the survival of the species in the wild. For fisheries resources, in general, this requirement has been interpreted to mean that in the exporting country there must be a functional management plan and associated monitoring. In this context this report discusses the core elements of a management system for humphead wrasse, making considerations about major fisheries management objectives, management measures, enforcement, monitoring and fisheries assessment.