“Categories of “intermediaries” and
Application conditions
Organizations in Hong Kong that are permitted to engage in activities regulated by the Securities and Futures Commission can be classified into licensed、Short-term licensed tour group、Three types of registered institutions。licensed corporation，"Refers to a corporation licensed under section 116 of the Securities and Futures Ordinance to carry on one or more types of regulated activities but which is not an authorized financial institution"。
short-term licensed corporation，"Refers to the issuance of a short-term license under section 117 of the Securities and Futures Ordinance，May carry on one or more types of regulated activities (Type 3) for a period of not more than three months(Leveraged Forex Trading)、Category 7(Provide automated trading services)、Category 8(Providing securities margin financing)and Category 9(Provide asset management)(other than regulated activities) but is not an authorized financial institution”。
Registration authority，"Refers to registration under section 119 of the Securities and Futures Ordinance to carry on one or more types of regulated activities (Type 3 regulated activities(Leveraged Forex Trading)and Type 8 regulated activities(Providing securities margin financing)(except) authorized financial institutions”。A short-term licensed corporation cannot engage in regulated activities for more than 3 months，Little meaning；The registered institution must first be a bank，The threshold is already high。
Therefore, we only take licensed corporations as an example，Introduce the general
Application conditions
。
General fit and proper requirements for licensed corporations on promoters
Require
：“In accordance with the provisions of Section 129 of the Securities and Futures Ordinance，When the SFC considers whether an applicant is fit and proper for licensing or registration，In addition to considering other matters that the SFC considers relevant，Consideration must also be given to the following matters concerning the applicant and, where appropriate, other relevant persons of the applicant:：financial condition or solvency；Academic or other qualifications or experience，and considerations in this regard must have regard to the nature of the functions proposed to be performed by the applicant；Are you capable of doing your job competently?、Carry out relevant regulated activities honestly and fairly；and reputation、character、Reliability and financial soundness。
"Company registration must be a company incorporated in Hong Kong or an overseas company registered at the Hong Kong Companies Registry。A company applying for competency must satisfy the Securities and Futures Commission that it has a suitable business structure、Good internal control system and qualified personnel，Sufficient to ensure the conduct of the proposed business as detailed in the business plan，Ability to appropriately manage risks that may be faced。
related to this
Require
，The Securities and Futures Commission of Hong Kong has issued a series of detailed guidelines："Guidelines on Competence"、The Code of Conduct for Persons Licensed or Registered with the SFC (the “Code of Conduct”) and the Management Applicable to Persons Licensed or Registered with the SFC、Supervision and Internal Control Guidelines"。Responsible officer's application for each type of regulated activity，Two less responsible officers must be appointed to directly supervise the relevant activities to be carried out。
The official English name of the responsible person is RO(Responsible Officer)。When submitting your license application，The company intending to be licensed must submit all approval applications for becoming an RO to the Securities Regulatory Commission.，for consideration by the Securities and Futures Commission。In the course of daily operations, licensed companies，There must be at least one responsible person who can supervise the relevant business at all times。
As long as the appointee is a suitable candidate and the relevant arrangements do not create role conflicts，The same person can be appointed as a responsible officer for more than one type of regulated activity。Among the two ROs，At least one must be an "executive director" as defined in the Securities and Futures Ordinance。However, all "executive directors" must seek approval from the Securities and Futures Commission to become ROs。
"Executive director" is defined here as "a director who is actively involved in or is responsible for the direct supervision of the business of the regulated activities for which the corporation is licensed"。As long as the "Executive Director" discharges his responsibilities in a satisfactory manner，Supervise business，can live outside Hong Kong。This provision can more conveniently arrange for mainland management to serve as ROs of Hong Kong licensed companies.。
The SFC will base its decision on the frequency of non-Hong Kong resident directors’ visits to Hong Kong to handle regulatory activities and the comprehensive level of the licensed company’s internal control system and systems.，To determine whether directors residing in the mainland are competent to perform the due diligence duties of the Hong Kong Securities Regulatory Commission on ROs
Require
。 The role of RO is more like a paid supervisor of a licensed company but accountable to the Securities and Futures Commission of Hong Kong.。ROs need to pass the assessment of the China Securities Regulatory Commission and be licensed to work.，Register with the China Securities Regulatory Commission，lifelong practice。
RO qualifications are related to RO natural persons.，Not related to the licensed company，Therefore, RO can freely change the licensed company he works for.。Under this system setting，If an RO violates the regulations of the China Securities Regulatory Commission at work, his license will be lost and he will lose his lifelong qualification.。So RO is for lifelong professional qualifications，We will supervise the daily operations of licensed companies to comply with regulatory requirements from the perspective of the China Securities Regulatory Commission.，Become the front-line management touchpoint of the Hong Kong Securities and Futures Commission in the operation of licensed companies。”
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