News & Insights

SFC licensing and compliance hints – Nov 2013

Reality check: In this day and age, we can do almost anything online, including the provision of investment advice and marketing investment products and services. Two recent SFC enforcement cases relate to unlicensed activity taking place on the internet. The cases are a timely reminder that regulated activity conducted in Hong Kong, or conducted elsewhere and actively marketed to the public in Hong Kong, requires a licence: whether it is carried on in the real world or online.

CPT done yet? Have all the licensed individuals in your company completed their CPT for 2013? The deadline is 31 December 2013. It is useful to remember that internal training can count for CPT purposes provided it meets the SFC’s requirements, which are set out in the Guidelines on Continuous Professional Training.

New FAQs: The SFC has recently issued new FAQs on Approval and transfer of accreditation, and variation of regulated activity. They helpfully give examples of various applications with the associated application fees.

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