What is a licensed corporation SFC?
A corporation (that is not an authorized financial institution) which is granted a licence to carry on one or more regulated activities under section 116 of the SFO.
What is regulated activity for SFC?
The following are the current types of regulated activities supervised by the SFC: Type 1: dealing in securities. Type 2: dealing in future contracts. Type 3: leveraged foreign exchange trading.
What is a responsible officer SFC?
A Responsible Officer is an individual who is approved by the Securities and Futures Commission (SFC) under section 126(1) of the Securities and Futures Ordinance (the “SFO”) as a Responsible Officer of a licensed corporation.
What is the difference between licensed corporation and registered institution?
As mentioned earlier, licensed corporations are referring to organisations that carry out regulated activities such as securities firms, asset management companies, etc. which are non-banks and non-authorized financial institutions; while registered institutions are banks that conduct securities business.
What is licensed representative?
Also Called. Licensing Agent, Licensing Sales Representative, Licensing Rep. Licensing representatives pitch and handle requests for the rights to use music in films, television, advertisements, video games, businesses, and performances.
How long does SFC license last?
According to section 138(2) of the Securities and Futures Ordinance, regardless of whether it is a licensed representative or a responsible officer, the SFC requires a licensee to pay a license fee every year after the license is issued or registered.
How do I get a SFC Type 9 license?
For an SFC Type 9 license, if the ROs are to be approved by the SFC unconditionally, they will generally need to demonstrate prior experience exercising investment discretion. The most obvious example of such experience is experience as a portfolio manager.
Who needs an SFC license?
You will need a license unless you: are an authorized financial institution (bank or deposit-taking company) and you carry on a business in one or more regulated activities. actively market to the public any services that you provide that could constitute a regulated activity (if provided in Hong Kong)
Do you need a SFC license?
What makes someone a registered representative?
“Registered representative” is a term that describes someone who is licensed to buy and sell securities for clients and is sponsored by a firm registered with the Financial Industry Regulatory Authority (FINRA). Registered representatives are more commonly referred to as stockbrokers.
What does a registered representative do?
A registered representative (RR) is a person who works for a client-facing financial firm such as a brokerage company and serves as a representative for clients who are trading investment products and securities. Registered representatives may be employed as brokers, financial advisors, or portfolio managers.