Hong Kong stock market latest news：A full analysis of Hong Kong license number 9 since Shanghai-Hong Kong Stock Connect，More and more mainland management institutions are beginning to enter the Hong Kong market，Introduce overseas investors by setting up a company in Hong Kong。
Many private equity management funds intend to apply for a Type 9 license from Hong Kong，There have been media reports，The application fee for a license is as high as 4.5 million yuan，So how important is this license plate??Since Shanghai-Hong Kong Stock Connect，More and more mainland management institutions are beginning to enter the Hong Kong market，Introduce overseas investors by setting up a company in Hong Kong。It is understood，Many private equity management funds intend to apply for a Type 9 license from Hong Kong，Use Hong Kong as a platform to attract international investors。
According to the regulations of Hong Kong's Securities and Futures Ordinance，Hong Kong License No. 9 mainly provides services for managing securities or futures contract investment portfolios, etc.。At present, Fushan Investment, a well-known domestic private equity institution、Jingtai Lifeng Assets、Bai Fang Assets、ivy assets、Tianma Assets、Infore Capital、Qiju Assets、Yifan Assets、Value Gravity and others have obtained the “No. 9 license” for asset management business.。Some of them were obtained in the past year or two.，Some get it earlier。
Hong Kong stock market information: Instructions for applying for Hong Kong Securities Regulatory Commission No. 9 license、General dealing
Require
The SFC will only issue licenses to applicants who meet the fit and proper criteria(include companies or people)And will evaluate whether the applicant is a suitable candidate from the following aspects:：a)Financial condition and solvency;b)Academic or other qualifications and experience，and considerations in this regard must have regard to the nature of the functions proposed to be performed by the applicant;c)Are you capable of doing your job competently?、conduct relevant regulated activities honestly and fairly;d)Reputation、character、Reliability and financial soundness。
Note：Licensed corporations and individuals affiliated with licensed corporations must comply with other legal requirements including immigration and taxation。two、Licensing of companies
Require
An asset management company that intends to apply for a license in Hong Kong must be a company incorporated in Hong Kong or an overseas corporation registered with the Companies Registry。According to the Securities and Futures Ordinance，Neither sole proprietorship nor partnership will be issued a license。
When assessing whether a company is a good fit，The SFC will consider the company’s financial condition and solvency、Qualifications and experience of company personnel、and whether the company has the ability to conduct regulated activities competently。In terms of competence，The company must demonstrate that it has an appropriate business structure、Good internal control system and qualified personnel，To ensure proper risk management and compliance with relevant rules and regulations。
Hong Kong Stock Quotes Licensed asset management companies must have at least two responsible officers。In terms of nationality of licensed individuals and responsible officers，There are no restrictions or special regulations from the Securities Regulatory Commission。At least one responsible officer of the asset management company must be a member of the board of directors，However, if other board members are not actively involved in or responsible for direct supervision of asset management activities，They do not necessarily need to be licensed to be responsible persons in the asset management business。
also，Although the Securities and Futures Commission
Require
At least one responsible officer must be based in Hong Kong，in order to directly supervise the relevant business，However, the responsible officer does not need to be in Hong Kong at all times，The condition is that when necessary，The SFC must have immediate access to at least one responsible officer of the asset management company。Except for the person in charge，Any person who is a licensed asset management company or conducts asset management activities on its behalf must be licensed as a representative。
Companies planning to apply for an SFC license must also meet relevant capital requirements。If you hold a Type 9 regulated activity license and will not hold customer information，The company must maintain a minimum liquid capital of HK$100,000。three、Ongoing responsibilities after starting business After obtaining a license，The company must maintain the qualifications of a fit and proper person，and comply with all applicable provisions of the Securities and Futures Ordinance and its subsidiary legislation，and codes and guidelines issued by the Securities and Futures Commission。
Companies are required to submit audited accounts and financial statements regularly。The Securities and Futures Commission is also required to notify the Securities and Futures Commission of certain events or information changes related to the company’s business within a specific time limit.。Four、Licensing of personnel
Require
1、Relevant competency requirements for responsible officers. If an individual applies for a license from the Securities and Futures Commission，Must demonstrate to the SFC that he has met relevant standards of competence and integrity，Be a fit and proper person to carry out regulated activities。
1)Academic/Industry Qualifications Hold a university degree in a specified field(For example, accounting、Business Administration、economy、Finance and Legal);or other degree(And pass the examination in at least two subjects in the designated areas);or professional qualification(For example, Chartered Financial Analyst、Certified Financial Planner, etc.)Hong Kong stock market 2)Relevant industry experience: at least 3 years in the past 6 years have been engaged in related industries3)Management experience 2 years 4)Local Regulatory Framework Examination Hong Kong Securities Institute's Securities and Futures Practitioner Qualification Examination Paper 1 and 6 passed(For the purpose of a Type 9 regulated activity license)2、Requirements relating to competence of licensed representatives Any person carrying on regulated activities(Except for those who perform direct supervisory functions)All must be licensed to become licensed representatives。
1)Academic/Industry Qualifications Hold a university degree in a specified field(For example, accounting、Business Administration、economy、Finance and Legal);or other degree(And pass the examination in at least two subjects in the designated areas);or professional qualification(For example, Chartered Financial Analyst、Certified Financial Planner, etc.)2)Local Regulatory Framework Examination Hong Kong Securities Institute's Securities and Futures Practitioner Qualification Examination Paper 1 Pass 5、Licensing Application Procedure We recommend that companies，Pay special attention to the following matters：You should describe in detail the status of the company you intend to apply for CSRC。
For example：Institutional background Business nature Business scope Operation model Customer objects Asset management procedures Risk management procedures Compliance management procedures Management team，Including responsible personnel and key staff，Its functions, organizational structure, resource allocation, corporate governance. Your corporate governance should have good internal control measures and qualified personnel.，To ensure proper risk management and compliance with relevant rules。
If a subsidiary is established outside mainland China，Please note whether you need to obtain approval from the mainland regulatory authorities first。
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