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Authored by: Jennifer Baccanello
Reminder to private equity firms of the SFC’s stance on licensing
In the SFC’s Circular to private equity firms seeking to be licensed (Circular) dated 7 January 2020, it was made clear that depending on the business activities of private equity (PE) firms, they may be required to be licensed by the Securities and Futures Commission (SFC) (link to our analysis of the Circular).
The SFC’s recently published Quick Reference Guide to Licensing Requirements for PE firms provides useful and simplified information on the typical licences required for PE firms and explains issues relating to co-investment activities, incidental exemptions, as well as the approach that the SFC takes when deciding whether an individual meets the competency requirements to become licensed as a responsible officer.
If you are operating a PE firm, our dedicating licensing and compliance team can assist you by:
Waiver of annual licensing fees
Annual licensing fees for intermediaries and licensed individuals have been waived by the SFC for the period 1 April 2023 to 31 March 2024.
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