SFC License in Hong Kong or Securities and Futures Commission is a financial industry regulator operating in Hong Kong. The Commission was created in order to exercise administrative control and regulate the activities of all companies that operate or are in any way connected with the financial sector.
Hong Kong has the status of one of the largest and most reliable financial centres in the world. Despite this, the region has quite a few regulators of activities related to financial transactions. The SFC was established in 1989 and today it is one of the oldest financial supervisors.
The most important and, perhaps, the most basic, tasks of the organization are the regulation of the operating activities of all firms with the status of financial companies, and administrative control over all their operations, regardless of the range of their services. The Commission controls not only those enterprises that are registered in Hong Kong, but also those that operate in China as a whole. The regulator, among others, oversees the following commercial entities:
The SFC also oversees the activities of forex brokers. To each of the above companies, the Commission issues a corresponding license that gives the official right to work in this sector.
The SFC is a structure independent of the local government. The regulator receives funding, for the most part, from fees that are collected from the reporting entities. However, unlike, for example, FinCom, the Futures and Securities Commission, which regulates the Hong Kong territory, provides a report on the activities carried out and their results to authorized representatives of government agencies every year.
In general, the SFC task list looks like this:
A company that wishes to obtain a financial license from the SFC must fully meet the criteria set by the Commission. The regulator’s employees will check not only the information provided about the officials and shareholders of the applicant company, but also their personal characteristics, in particular, suitability to hold the appointed post, etc.
The SFC will necessarily study all parameters of the application, including:
In addition, the financial operator must be willing to demonstrate a willingness to contribute to the development of the Hong Kong financial sector and provide professional services to consumers.
If you want to work in the financial sector and register your company in Hong Kong, then you should consider purchasing a ready-made structure with an SFC license. To purchase a ready-made SFC license in Hong Kong, contact us.
Our highly professional specialists from Eternity Law International are ready to provide you with assistance in resolving your issue.