SFC licensing and compliance hints – Nov 2012

CPT: 2012 is about to end which means all licensed individuals should have already fulfilled or be close to fulfilling their 2012 CPT requirement. If your company has licensed individuals who still need CPT hours, they need to act quickly.

Licensing examination exemption: It is getting more difficult to obtain a conditional exemption from taking the licensing exams under item 6 of Appendix E of the Guidelines on Competence (i.e. where the person will assume a very senior management level role). Generally only persons at the very top of the management hierarchy will be considered under this exemption.

Change of “business day” definition: As a result of the recent amendments to the SFO, the definition of “business day” now excludes Saturdays which is helpful in the context of filing deadlines.