Breach of a code of conduct provision may lead to disciplinary action. Had the information been known to the investing public, it would have been likely to materially affect the share price of Company A. Also, intermediaries are advised to discuss such activities with the SFC before the relevant business is conducted in Hong Kong by the intermediaries or their group entities. Some of the more common change events that require notification are shown in the table below. They have to comply with all applicable provisions of the SFO and its subsidiary legislation as well as the codes and guidelines issued by the SFC. Please refer to Do you need a licence or registration? The SFC issued a reminder on 11 May 2015 to intermediaries as well as their substantial shareholders about compliance with the notification requirements under the Securities and Futures Ordinance, the Securities and Futures (Licensing and Registration) (Information) Rules (Information Rules… “Guidelines on Continuous Professional Training”. Failure to submit annual return before the due date could result in suspension and revocation of the licence (sections 195(4)(b) and (6) of the SFO). If a licensed corporation ceases carrying on all of the regulated activities for which it is licensed, it should submit to the SFC its audited accounts and other required documents, made up to the date of cessation, not later than four months after the date of the cessation. Rules, (3) the financial information that it is nevertheless still able to report on, and (4) explain whether the accuracy, completeness and presentation of the financial information available is ... the overall objective of the Exchange and the SFC to minimize disruptions to trading while The State Finance Corporations (SFCs) are an integral part of institutional finance structure of a country. Details are set out in the table below. Where SEC promotes small and medium industries of the states. Notifications should be made to the SFC through the SFC Online Portal of your intended cessation (as well as the related cessations of your licensed individuals) as soon as reasonably practicable and in any event not later than 7 business days before such intended cessation (section 135(1) of the SFO). Hyperlinked cross references are now available in the HTML versions. Licensed corporations and licensed individuals are required to submit annual returns to the SFC through the SFC Online Portal within one month after each anniversary date of their licences (section 138(4) of the SFO). Such programmes should enhance the individuals’ industry knowledge, skills and professionalism. The SFC takes this information into account in its assessment of the corporation's … Breach of a code of conduct provision may lead to disciplinary action. For licensed individuals, notifications must be made through the SFC Online Portal. SFC Status: Fall 2020 courses will be conducted under a flexible hybrid model, incorporating both in-person and online instruction. Visit for more information. The Circular makes a distinction between: The same requirement applies to an associated entity (which is not an authorized financial institution) of an intermediary upon its ceasing to be an associated entity of the intermediary (section 156(2) of the SFO). Provided that there are independent assessments, such as evaluation or test results, and sufficient records to demonstrate fulfilment and duration of training, they can be counted towards acceptable CPT activities. However, corporations that are licensed only for Type 4, Type 5, Type 6, Type 9 and/or Type 10 regulated activities and whose licences are subject to the condition that they shall not hold client assets, are only required to submit semi-annual financial resources returns (section 56 of the Securities and Futures (Financial Resources) Rules). Subject to the legislative process, the SFC will be implementing the FRR amendments on 1 April 2019, with the exception of amendments related to a new accounting standard which will take effect on 1 January 2019. further information requested during the assessment process the number of applications we are processing at any particular time Source: The SFC Licencing Handbook –February 2019 The SFC provides the following estimate of application processing time. A CPT provider approved by the SFC is just one option. to provide guidance for the furtherance of its regulatory objectives, in relation to any matters pertaining to any of its functions, and. Our codes and guidelines cover a wide range of regulatory functions. System File Checker is a very useful tool to use when you suspect issues with protected Windows files, like many DLL files. The notification should state clearly on whose behalf it is made, and the represented entities should be aware of the notification. The SFC defines an EDSP broadly as including providers of public and private cloud services, servers for data storage at conventional data centres, other forms of virtual storage of electronic information and technology services which generate, store and retrieve applicable information. All licensed persons and registered institutions should pay annual fees within one month after each anniversary date of their licences or registrations (section 138(2) of the SFO). Sequential Function Chart TM242 - Sequential Function Chart (SFC) 5 2 SEQUENTIAL FUNCTION CHART 2.1 General information Sequential Function Chart is a visual programming language that makes it possible to … The codes and guidelines, for example, seek to assist intermediaries to comply with applicable regulatory requirements so that they are fit and proper to remain licensed or registered. Rules for programming • ... Troubleshooting options. President Museveni Friday commissioned Shs3.48b new headquarters of the Special Forces Command, named the General Yoweri Museveni House. (c) when a person connected with the corporation and knowing that any information is inside information in relation to the corporation, discloses the information, directly or indirectly, to another person, knowing or having reasonable cause to believe that the other person will make use of the information for the purpose of dealing, or of counselling or procuring another person to deal, in the … From time to time it may also cover other recent market developments. The SFO requires that there must be at least one responsible officer available at all times to supervise the licensed corporation’s business of carrying on a regulated activity. Those that are applicable today and their earlier versions(s), if any, can be viewed in this section, providing easy search via multiple criteria, indexing and cross referencing. The following commercial vehicles must comply to meet the requirement to receive an SFC: 1. a truck, tractor or trailer or any combination of these vehicles that has a registered gross vehicle weight of 11,794 kilograms or more, operating solely within Alberta 2. a truck, tractor or trailer or any combination of these vehicles that weighs or is registered with a gross vehicle weight of more than 4,500 kilograms that is used or intended to be used to transport goods on a highway outside of Alberta, including a farm-plated … Licensed corporations and registered institutions are primarily responsible for designing and implementing a continuous education programme best suited to the training needs of the licensed representatives or relevant individuals they engage. We use cookies to run our user subscription service and collect … SFC has published Guidelines on Disclosure of Inside Information (“SFC Guidelines”) to assist listed companies to comply with the disclosure obligation. Further to circulars issued by the Hong Kong Securities and Futures Commission (the SFC) in May 20151 and in June 20182 addressing general notification requirements applicable to intermediaries under the Securities and Futures (Licensing and Registration) (Information) Rules (the Information Rules), the SFC issued a further circular on 14 September 2018 specifically addressing the reporting by intermediaries, to the SFC, of material breaches, infringements of or non-compliance with laws, rules, re… If you have ceased to carry on all or any regulated activities for more than one month, you should return the licence certificate to the SFC for cancellation or amendment (as the case may be) within 37 days after the cessation unless the SFC has approved a longer period for such purpose (section 4 of the Securities and Futures (Miscellaneous) Rules). Licensed corporations, licensed representatives (including responsible officers) and registered institutions must remain fit and proper at all times. More information here. In addition, the SFC has a general power (section 399) to issue codes and guidelines: However, such codes and guidelines are not subsidiary legislation and failure to comply with them does not by itself render a person liable to any judicial or other proceedings. Intermediaries are required to notify the SFC of its engagement in trading and asset management services involving virtual assets as well as robo-advisory financial services. For licensed corporations and registered institutions, you should exhibit your licence or certificate of registration in a prominent place (such as the client reception area) at your principal place of business. Email, We use cookies to improve the website performance and user experience. If you continue to use this website, you are agreeing to their uses. The important point to note is that the training topics must be relevant to the functions to be performed by the person. For details, please refer to the “Guidelines on Continuous Professional Training”. A director of a licensed corporation is required to notify the SFC of his/her becoming or ceasing to be a director of the corporation within 7 business days after the event takes place (section 135(6) of the SFO). Details are set out in the table below. This requirement does not apply to an associated entity which is an authorized financial institution. 245A shareholder is a domestic corporation that is a U.S. shareholder with respect to a specified 10%-owned foreign corporation (SFC) and that owns directly or indirectly stock of the SFC. Had the information been known to the investing public, it would have been likely to materially affect the share price of Biostime. See also “Circular to intermediaries on compliance with notification requirements”. Individuals should also retain their own CPT compliance records for a minimum of 3 years. Intermediaries are required to notify the SFC of its engagement in trading and asset management services involving virtual assets as well as robo-advisory financial services. . The SFC is responsible for fostering an orderly securities and futures markets, to protect investors and to help promote Hong Kong as an international financial centre and a key financial market in China. The firms have to perform due diligence to ensure CPT compliance by the individuals concerned. A substantial shareholder of a licensed corporation is required to notify the SFC of changes in his/her particulars as detailed in Part 4 of Schedule 3 to the Securities and Futures (Licensing and Registration) (Information) Rules. Failure to make full payment of the annual fee before the due date will attract a surcharge on the outstanding amount and possible suspension and revocation of a licence or registration (sections 138(3) and 195(4)(a) and (6) of the SFO). On the OTC derivatives front, the SFC will publish the draft amendment rules “once the drafting is completed”. The changes requiring notification by licensed persons and registered institutions are specified in section 135 of the SFO and Parts 1 to 3 of Schedule 3 to the Securities and Futures (Licensing and Registration) (Information) Rules. The regime creates a statutory obligation on listed companies to disclose inside information to the public, as soon as reasonably practicable after inside information has come to their … Our Information and communication technology (ICT) policies are used to govern how we use ICT to conduct Scottish Funding Council (SFC) business. In the case of entities belonging to the same group of companies, a licensed corporation or registered institution may make a notification on its behalf and on behalf of other group entities in respect of the same change. However, in terms of the content, please refer to paragraphs 7.1 and 7.2 of the "Guidelines on Continuous Professional Training" for examples relevant to each level. Further to Types of intermediary and licensed individual > Registered institutions > Further guidance and according to Q14 of the frequently asked questions concerning “Management Accountability at Registered Institutions”, registered institutions should submit updates on the relevant information and the organisation chart to the HKMA and the SFC within 14 days of the relevant change taking effect. Given the broader clientele coverage, the complexity of the business activities undertaken, and the need to have day-to-day dealings and communications with the exchanges, the SFC generally expects that an exchange participant of The Stock Exchange of Hong Kong Limited or Hong Kong Futures Exchange Limited to have at least two responsible officers locally available at all times to directly supervise its brokerage business. If you have more than one place of business, a certified copy of your licence or certificate must be exhibited in a prominent place at each of your other places of business (section 3 of the Securities and Futures (Miscellaneous) Rules). > Further guidance > Financial technology (Fintech) for further information. A Sec. Section 4(2) of the Information Rules requires that certain changes in information (as specified in Part 1 of Schedule 3) that have previously been provided to the SFC in support of a licence application must be communicated to the SFC within seven days after the changes take place. An associated entity is also required to notify the SFC of its financial year end within one month after becoming an associated entity (section 155(1)(b) of the SFO).

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