“Apply for a Hong Kong SFC regulatory license in Hong Kong，The required conditions are nothing more than people and money.，Specifically reflected in the organizational form and personnel qualifications
Require
superior。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。
???|?|???ˉ?¤???????§???§?o?a?§?§?§?￥?|?¤???§?3?¨?ˉ?·?￥?§??￥?§?|?m?§?¨?￥?|???¤?????￥?|?¤???ˉ??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(ResponsibleOfficer)。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。
负责人RO要通过香港证监会的审核上岗是需要参加资格考试的。
Regulated Activity Positions Hong Kong Securities and Futures Practitioners Qualifying Examination Subjects Securities Trading；Advise on securities；Responsible Person Paper 1 + Paper 2 Asset Management；Responsible Person Paper 1 + Paper 6 Securities Trading；Advise on securities；Represents Volume 1 futures contract trading；Advising on futures contracts；Provide advice on institutional finance on behalf of Volume 1；Representative Volume 1 Asset Management；The results of the Hong Kong Qualification Examination of Representative Paper 1 can be used to apply for relevant licenses from the Hong Kong Securities Regulatory Commission，Valid for 3 years，That is, candidates must apply to the Hong Kong Securities and Futures Commission for a representative license for relevant regulated activities within 3 years after passing the Paper 1 examination.；Or pass Paper 1+Paper 2/Paper 6/Paper 16 within 3 years，and apply to the Securities and Futures Commission of Hong Kong for a responsible officer license for relevant regulated activities。
People from mainland China can currently travel to Beijing、Shenzhen、Shenzhen、Cities such as Xi'an and Wuhan take part in the Hong Kong Qualification Examination。
According to the "Mainland and Hong Kong Closer Economic Partnership Arrangement" signed by the Central Government of China and the Hong Kong Special Administrative Region(CEPA)，The Mainland China Securities Regulatory Commission and the Hong Kong Securities Regulatory Commission have determined the securities、Specific arrangements for mutual recognition of qualifications for futures and fund practitioners，Mainland securities and futures fund professionals(Refers to possession of valid Mainland securities、Chinese citizens with futures or fund professional qualifications)Organized by the Hong Kong Securities and Investment Institute、Hong Kong Securities and Futures Practitioner Qualification Examination organized by the Securities Association of China(Hereinafter referred to as "Hong Kong Qualifying Examination")Volume 1 "Basic Securities and Futures Regulations"、Volume 2 "Securities Regulations"、Volume 6 "Asset Management Regulations"、Volume 16 "Sponsor"(represent)》，and meet the licensing conditions listed by the Securities and Futures Commission of Hong Kong，Apply for relevant licenses。
Pass the above related exams,Hold general mainland professional qualifications,will be deemed to meet the industry qualifications of Hong Kong Representatives。
Mainland securities and futures fund professionals apply for licenses in Hong Kong(After passing Paper 1 exam)，Should be deemed to have Hong Kong recognized industry qualifications corresponding to their current practicing qualifications in accordance with the comparison table below：Mainland practicing qualifications Securities practicing qualifications for regulated activities listed in Hong Kong license(Passed the securities trading professional examination)Securities trading(Category 1 regulated activity)Securities practice qualification(Passed the securities investment analysis professional examination)Advise on securities(Category 4 regulated activities)Securities practice qualification(Passed the Securities Issuance and Underwriting Professional Examination)Advise on institutional financing(Category 6 regulated activity)Futures practice qualification(Passed futures specialist examination)Futures contract trading(Type 2 regulated activity)Futures practice qualification(Passed futures specialist examination)Advising on futures contracts(Category 5 regulated activity)Fund practice qualification(Passed the Securities Investment Fund Professional Examination)Provide asset management(Category 9 regulated activities)高级管理层持牌公司的高级管理层应承担的首要责任是确保持牌公司能够维持适当的操守标准及遵守恰当的程序。
The Securities Regulatory Commission believes that，The senior management of a licensed corporation includes (in addition to other members)：directors of corporation，Responsible officer of the corporation，and those in charge of core functions。The above three categories of positions do not necessarily have to be held by different individuals.。For example，A person may also be a director of a licensed corporation、Responsible personnel and core functional managers。
Under Section 116 of the Securities and Futures Ordinance(1)When applying for a license，Licensed companies are required to provide information on core functional managers and organizational charts。The management structure of a licensed corporation (including the appointment of core functional managers) should be approved by the corporation’s board of directors。also，The board of directors should ensure that each core functional officer of the licensed corporation has agreed to accept his or her appointment as a core functional officer，and the specific core functions for which they are primarily responsible。
The term “core function manager” means a person appointed by a licensed corporation to be (alone or together with others) primarily responsible for the management of any of the following functions of the corporation：(i)Overall management supervision(ii)Main business(iii)Operation monitoring and review(iv)risk management(v)Finance and Accounting(vi)information technology(vii)Compliance(viii)Details of core functional supervisor requirements for combating money laundering and counter-terrorist financing，Please refer to the "Circular to Licensed Corporations on Measures to Enhance the Accountability of Senior Management" Substantial Shareholders、Senior officers and other relevant persons must meet the qualifications of a fit and proper person "Substantial shareholder of a licensed company"、senior staff、Any other person who is or will be employed in connection with the regulated activity to which the licensed company’s application relates，or any other person who is or will be associated with the licensed company in connection with such activities，All must be qualified as suitable candidates.”。
For details, please refer to Section 129 of the Securities and Futures Ordinance。A financial resources licensed company must, at all times, be responsible for the type of regulated activity for which the licensed company is applying for a license.，Maintain the paid-up share capital and liquid capital of licensed companies at no less than the Securities and Futures(financial resources)the relevant amount specified in the Rules。
Applications for each of more than one type of regulated activity of a licensed company，The minimum paid-up share capital and liquid capital that should be maintained will be the higher of the prescribed amounts applied for in relation to the regulated activity。The table below is a summary of the minimum amounts of paid-up share capital and liquid capital that licensed corporations are required to maintain for each type of regulated activity.。
Low paid-up share capital and liquid capital
Require
Low Amount Liquid Capital of Regulated Activities Paid-up Share Capital Low Amount Category 1 -(a)If the corporation is an approved introducing agent or trader(b)If the corporation provides securities margin financing(c)如属其他情况不适用$10,000,000$5,000,000$500,000$3,000,000$3,000,000第2类－(a)If the corporation is an approved introducing agent、Trader or non-clearing dealer in futures(b)如属其他情况不适用$5,000,000$500,000$3,000,000第3类－(a)If the corporation is an approved introducing agent(b)如属其他情况$5,000,000$30,000,000$3,000,000$15,000,000第4类－(a)If the corporation is subject to a licensing condition not to hold client assets in relation to Type 4 regulated activity(b)如属其他情况不适用$5,000,000$100,000$3,000,000第5类－(a)If the corporation is subject to a licensing condition that it cannot hold client assets in relation to Type 5 regulated activity(b)如属其他情况不适用$5,000,000$100,000$3,000,000第6类－(a)如该法团担任保荐-持有客户资产-不得持有客户资产(b)如该法团并非担任保荐-持有客户资产-不得持有客户资产$10,000,000$10,000,000$5,000,000不适用$3,000,000$100,000$3,000,000$100,000第7类$5,000,000$3,000,000第8类$10,000,000$3,000,000第9类－(a)If the corporation is subject to a licensing condition not to hold client assets in relation to Type 9 regulated activity(b)如属其他情况不适用$5,000,000$100,000$3,000,000第10类－(a)If the corporation is subject to a licensing condition not to hold client assets in relation to Type 10 regulated activity(b)如属其他情况不适用$5,000,000$100,000$3,000,000如欲获得更多有关财政资源的资料（例如怎样计算速动资金），See。
Insurance "Securities and Futures"(Insurance)Rules sets out the insurance requirements applicable to licensed corporations。A licensed company intends to apply for Type 1 regulated activity (dealing in securities) and/or Type 2 regulated activity (dealing in futures contracts) and intends to become an exchange participant，Be prepared that you will need to take out insurance under an approved master insurance policy。The appointed insurance broker will handle the relevant administrative matters。
The sponsor must be qualified to act as a sponsor or compliance advisor，Licensed companies must be licensed for Type 6 regulated activities，Right now(i)Be able to meet the eligibility criteria set out in the Sponsor Guidelines (Appendix I to the Fit and Proper Guidelines)；and(ii)Maintaining fitness and fitness as a licensee。(The "Guidelines for Sponsors" and "Code of Conduct" can be downloaded from the "Compendium of Rules" section on the SFC website)。
）房地产投资信讬基金（“房地产基金”）房地产基金公司需要就第9类受规管活动（提供资产管理）获发牌照。As to whether the company needs to be licensed for other types of regulated activities，depends on its mode of operation。
For example，If the management company is also engaged in matters related to the listing application of the scheme (other than appointing a listing agent)，The firm will need to be licensed for Type 6 regulated activity (advising on corporate finance)。If the company will also be involved in distributing real estate investment trust funds or other securities，then it is required to obtain a license for Type 9 regulated activities，Will also need to be licensed for Type 1 regulated activity (dealing in securities)。
Categories of licensed persons with professional qualifications Licensed persons recognized by the Hong Kong Securities and Futures Commission are divided into Responsible Officers (ROs)、licensed representative、temporary licensed representative、Short-term license holders represent several categories。Comply with the criteria set out in Appendices D and E。The HKMA may
Require
The applicant provides an independent assurance report (the report)，to support its concerns about the applicant’s suitability，and a determination of whether the applicant is competent to carry out any regulated activity。
The report should be prepared by an external professional firm acceptable to the HKMA。Generally speaking，Applicants who have just joined the Hong Kong securities and futures market，and where the case is considered particularly complex，All must comply with this provision。If you plan to sponsor an IPO，You should conduct the relevant activities through a corporation within the same group that holds a Type 6 regulated activity license。
When the SFC decides to accept or refuse registration for an applicant，The advice given by the HKMA should be taken into account，and may rely on such opinions when making decisions。Responsible Officer A responsible officer refers to a licensed representative who is also approved to be a responsible officer in accordance with Section 126 of the Securities and Futures Ordinance.，A person who supervises the regulated activities of a licensed corporation to which he or she is affiliated。
Meet the requirements for a fit and proper person to be responsible：financial condition or solvency；Academic or other qualifications or experience，and considerations in this regard will have regard to the nature of the functions to be performed；Whether you are competent and competent、conduct relevant regulated activities honestly and fairly；and reputation、character、Reliability and financial soundness。For details, please refer to the "Guidelines on Fit and Proper Persons" and "Guidelines on Competence" on the website of the Securities and Futures Commission of Hong Kong.。
Provisions on Relevant Industry Experience of Responsible PersonsRelevant Industry Experience of Responsible Persons
Require
，It is not limited to the previous working experience of the license applied for，“When the SFC considers responsible officer applications，A wide range of industry experience will be recognized as relevant experience.”。
For example，Experience gained from fund sales and marketing although not directly related to investment management，But may be recognized in applications relating to Type 9 regulated activity (provision of asset management)。When the Securities Regulatory Commission considers whether an applicant can pass the industry experience test，Consideration will also be given to (among other factors) the person's overall working experience in the industry。
"Non-Hong Kong-based personnel serve as responsible officers - overseas resident mainland personnel can only come to Hong Kong to carry out regulated activities on behalf of the licensed corporation to which they belong.，The Securities and Futures Commission will grant a license。at the same time，It is necessary to ensure that mainland personnel maintain a certain frequency and duration of going to and staying in Hong Kong.，To ensure that he can reasonably perform his duties as a responsible person in Hong Kong。For example，Promise to ensure that their right to perform their duties independently will not be lost due to departure from Hong Kong，Not influenced by another long-term responsible person stationed in Hong Kong。
What needs special attention is that，It is necessary to prevent mainland personnel from being characterized as "floating personnel" as considered by the Hong Kong Securities and Futures Commission.。Mobile professionals will only stay in Hong Kong occasionally and temporarily for a specific purpose，There is no objective possibility of completing the job。The classification of Sponsor License No. 6 for Category 6 licensed companies is “providing advice on institutional financing”，Simply understood, it is the investment bank card。
The qualification requirements set out in the Sponsor Guidelines (Appendix I to the Fit and Proper Guidelines) apply to key officers of a sponsor of a licensed corporation engaged in Type 6 regulated activity。Generally speaking，The main personnel of the sponsor should be the responsible person RO of the sponsor。
The appointment is subject to whether the sponsor has at least one other key officer of the sponsor(i)Meet the qualifications to serve as the sponsor’s key personnel under Option 1；(ii)Based in Hong Kong；and(iii)Its license is not subject to other conditions，To restrict the person from providing advice on sponsorship work or engaging in sponsor work。Mobile professionals are not eligible to serve as sponsor key personnel。
Advising on the Takeovers Code on inter-company mergers and acquisitions，In Hong Kong, there is a special "Company Acquisition"、Mergers and Share Buy-Backs Code ("Takeovers Code") to regulate relevant matters。在并购项目中作为财务顾问是需要证监会认可的相关知识和才能的。Generally speaking，The applicant must satisfy the SFC that，The financial adviser has experience overseeing at least one complete transaction under the Takeovers Code or the London Takeovers Code。
Become a financial advisor for M&A projects，Supplementary Document 11 needs to be completed (related to the "Hong Kong Company Acquisition"、Activities related to matters regulated by the Code on Mergers and Share Buy-Backs) and provide certain supporting documents，To demonstrate the financial adviser’s competency in matters relating to the Code。
房地产投资信讬基金（“房地产基金”）如基金就第9类资管活动申请为隶属房地产投资信讬基金管理公司的负责人员，In addition to meeting the general competency requirements for responsible persons specified in the "Guidelines on Competence"，Also must have at least five years of traceable record of investment management and/or property portfolio management。
Licensed Representative Licensed Representative means a licensed representative under Section 120 of the Securities and Futures Ordinance(1)Regulation An individual licensed to carry out one or more types of regulated activities for a licensed corporation to which he is affiliated。A licensed representative can only carry out licensed regulated activities for the licensed corporation to which he is affiliated (i.e. the principal)。Licensed representatives cannot hold concurrent positions in different independent licensed corporations that are not related to each other.。
Qualifications of licensed representatives
Require
The factors are basically the same as the responsible person RO，But relevant business experience
Require
will reduce，Qualifying Examination Subjects
Require
also relatively low。The Securities and Futures Commission does not
Require
Licensed companies must employ licensed representatives when operating regulated activities。Licensed representatives are more like a junior reserve of responsible personnel。
Regulated Activity Positions Hong Kong Securities and Futures Practitioners Qualifying Examination Subjects Securities Trading；Advise on securities；Responsible Person Paper 1 + Paper 2 Asset Management；Responsible Person Paper 1 + Paper 6 Securities Trading；Advise on securities；Represents Volume 1 futures contract trading；Advising on futures contracts；Provide advice on institutional finance on behalf of Volume 1；Representative Volume 1 Asset Management；Representative Paper 1 If a professional has relevant experience, qualifications and is competent to be responsible for various tasks
Require
，Pass the qualifying exam and apply，Can be approved as a responsible officer。
However, if a practitioner does not meet the qualifications of the responsible person,
Require
and applied to become a licensed representative，Then a licensed representative needs to have a certain number of years of professional practice.，To be approved as a responsible person。
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