Jurisdiction - Hong Kong
Hong Kong – SFC Licensing And Compliance Hints.

16 July, 2012


Filling in SFC forms: Responsible officers and directors should note that in signing certain SFC forms on behalf of their firms, they need to declare that "all the information provided in the form is complete … [and that they understand] that providing false or misleading information is an offence … and that the SFC may take disciplinary action against a person who has made a false or misleading representation". Care therefore needs to be taken by responsible officers/directors prior to signing to ensure that they have enough information to confirm that all details in the form are accurate. If they are unsure about anything, they should ask questions to confirm the situation prior to signing.


"Acceptance" vs. "Approval" of an SFC application: When a licensing application is submitted to the SFC, the first hurdle is getting the application "accepted" by the SFC (that is, the point in time at which the SFC officially starts the review process, having cashed the cheque for the application fee). Once the SFC has no further questions on the application, the application will have reached the finishing line and the SFC will "approve" the application. SFC "acceptance" is just the first step along the path to SFC "approval".


Late SFC notifications: If you need to file a Form 5 with the SFC and the notification is late, the SFC is less likely to come back to you if you include the reason for the delay in the notification.



For further information, please contact:


Rebecca Yip, Deacons

[email protected]


Peter Poon, Deacons

[email protected]


Jalen Kwok, Deacons

[email protected]


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