SFC Issues New Guides for Visiting and Returning Professionals to Highlight Pragmatic Licensing Opti

On September 2, the Securities and Futures Commission (SFC) of Hong Kong published two new quick reference guides to assist visiting and returning professionals in understanding the SFC's pragmatic licensing regime, complementing the five popular quick reference guides published in 2023. Illustrating with case studies, the two new guides offer useful information about licensing options and processes as well as various conditions for examination exemptions, in order to facilitate a smooth and compliant transition to the Hong Kong financial markets for these professionals. The licensing regime under the Securities and Futures Ordinance of Hong Kong provides flexibility for visiting professionals to perform regulated activities in Hong Kong for a licensed corporation. There are various options to suit their circumstances and work. Exemptions from examinations and continuous professional training requirements are also available in certain circumstances. The licensing regime under the Securities and Futures Ordinance of Hong Kong also provides flexibility for former practitioners intending to return to the industry in Hong Kong after an interval of less than eight years to perform regulated activities with alternate means to satisfy the competence requirements under certain circumstances. “We see a growing trend of financial talents coming to Hong Kong and we offer a pragmatic licensing regime to accommodate such demand,” said Dr Eric Yip, the SFC’s Executive Director of Intermediaries. “While the first series was very well received, these new handy guides should help industry practitioners and potential applicants better grasp the essence of the SFC’s expectations and licensing requirements with an aim to continuously strengthen Hong Kong’s pool of financial talents.”