SFC Clarifies Competence Requirements for Type 9 Licence Applicants
Competence Requirements for Asset Management Licence Applicants Clarified by SFC
On 23 June 2017, Hong Kong’s Securities and Futures Commission (SFC) issued a circular which provides guidance for existing licensed corporations and individuals that seek to be licensed for Type 9 regulated activity (asset management) under the Securities and Futures Ordinance. Licensed corporations and individuals are required to apply for an additional Type 9 licence if the asset management services they propose to conduct are not wholly incidental to the regulated activities for which they are already licensed. Read more…