SFC routine inspection update

Information/record-keeping systems: A firm's record-keeping systems, and especially client files and transaction records, must allow access by the Securities and Futures Commission (SFC) on a timely basis in a language the SFC staff understand. Poor record-keeping by a licensee can result in time-intensive follow-up questions from the SFC.

Requests for information: Sometimes the SFC asks for information that is beyond the scope of the licensed corporation's own activities. The licensed corporation should inform the SFC promptly if the information cannot be provided.