SFC licensing and compliance hints – Jun 2012

Alerts: As mentioned in the first item in this newsletter, the SFC has recently added a new box to its email alert service options called “Short Position Reporting Related Matters” as a result of the new short position reporting requirements. The alert service is on the SFC’s website at https://www.sfc.hk/sfcUpdateAlert/jsp/EN/update_alert.jsp. If short position reporting is something that you need to stay on top of, it is worthwhile updating your options. Subscribers to the service receive updates on their chosen topics when released by the SFC.

FinNet: Licensed corporations are currently able to receive updates from the SFC through the SFC’s FinNet service. The SFC has announced that this service will end in the first quarter of 2013. Thereafter the SFC will only issue circulars, and licensed companies will only be able to submit their financial returns, through the SFC’s website.

CPT: We are almost half way through 2012 which means that all licensed individuals have about six months in which to fulfil their 2012 CPT requirement. It is therefore time for all licensed individuals to assess how many more hours they need. A record should be kept of all CPT activities.