What is Type 9 license Hong Kong?
An SFC Type 9 license is a license to carry on a business in the regulated activity of asset management.
What is Type 9 regulated activity?
Type 9 (asset management) regulated activity is defined in Schedule 5 to the SFO as (i) real estate investment scheme management; or (ii) securities or futures contracts management.
What is HK Type 1 license?
SFC license types for regulated activities Regulated activities (RAs) have been defined in the SFO and comprise of 12 types of activities. These include: Type 1 – Dealing in securities. Type 2 – Dealing in futures contracts. Type 3 – Leveraged foreign exchange trading.
What is SFC license?
A licence is issued by the SFC under Part V of the SFO only to allow the holder to carry on business in a regulated activity, or to perform a regulated function in relation to a regulated activity carried on as a business, in Hong Kong.
How long does SFC license last?
According to section 138(4) of the Securities and Futures Ordinance, both licensed representatives and responsible officers must submit an annual return every year after their license is granted or registered.
What is a licensed corporation in Hong Kong?
As mentioned earlier, licensed corporations are referring to organisations that carry out regulated activities such as securities firms, asset management companies, etc. which are non-banks and non-authorized financial institutions; while registered institutions are banks that conduct securities business.
What is the minimum paid up share capital of a licensed corporation that is licensed for Type 1 4 and 9 and providing securities margin financing?
Orient Securities, being a corporation licensed to carry on Type 1 and Type 4 regulated activities under the SFO, is required to have a minimum paid-up share capital of HK$10 million.
Do I need an SFC licence?
The purpose of this Customs Notice is to advise commercial importers that as of January 15, 2020 , a SFC licence is mandatory to import certain foods into Canada. Shipments without an SFC licence may experience delays or refusal of entry at the border, and importers may be subject to enforcement actions.
What is a CE number in Hong Kong?
(1) In these Rules, unless the context otherwise requires— “applicant” (申請㆟) means the person making an application under the Ordinance to the Commission; “basic information” (基本資料) means the information referred to in Part 1 of Schedule 1; “CE number” (㆗央編號) means the central entity identification number assigned by …
How long does it take to get a SFC license?
The processing of an application submitted to the SFC by a new industry participant normally takes approximately: 7 business days (for a provisional licensed representative application); 8 weeks (for a normal licensed representative application); 10 weeks (for a responsible officer application); or.
What does a type 9 license cover?
It is relevant to note that the Type 9 license not only covers portfolio management activities, but also permits incidental marketing of funds which are managed by the licensed corporation as well as incidental research and securities analysis.
What is a type 9 SFC license?
SFC Type 9 licenses are often subject to a condition that the licensed corporation not hold client assets. This condition means that the holder of an SFC Type 9 license will normally use an outside custodian (typically a bank or a broker) to custody client assets.
Do I need a Type 4 or Type 6 licence?
if you are a trust company, you are not required to be licensed for Type 4 (advising on securities), Type 5 (advising on futures contracts), Type 6 (advising on corporate finance) or Type 9 (asset management) regulated activity if you provide such investment advice or services wholly incidental to your discharge of duty as a trustee.
What is the minimum liquid capital requirement in Hong Kong?
Minimum liquid capital requirement HK$ 100,000.00; in other cases HK$ 3,000,000.00 Hong Kong is one of the world’s busiest cities, together with London, New York and Tokyo is acknowledged to be one of the highest respected financial centres in the world.