SFC licensing and compliance hints

What’s in a name? We last discussed company names in our October 2013 newsletter. We are raising the topic again because of the implementation of the Companies (Disclosure of Company Name and Liability Status) Regulation, subsidiary legislation under the new Hong Kong Companies Ordinance which came into effect on 3 March 2014. If your company has registered its name in both English and Chinese, you need to check that the name appears in both English and Chinese in business letters, notices, official publications, contracts and other transaction instruments and on your website. Under the Regulation, failure to state the company’s registered name(s) in full in communications, documents, transaction instruments and websites is a criminal offence.

CPT Again! As the first quarter of 2014 is already behind us, it is time to remind all licensed individuals to plan ahead to meet their 2014 CPT requirements to avoid a year-end rush. Don’t forget that internal training such as AML refresher courses and regulatory updates can be counted for CPT purposes provided it meets the SFC’s requirements, which are set out in the Guidelines on Continuous Professional Training.