The Hong Kong Securities and Futures Commission speeds up the pace of licensing, and mainland institutions accelerate their entry into the market
After the Hong Kong Securities and Futures Commission issued asset management licenses commonly known as "No. 9 License" to three institutions in March,，4Similar licenses will be issued to 2 more organizations in the next month，Many of the licensed institutions have Chinese capital backgrounds，The more notable ones include China Post Venture International Asset Management and Zhongrong International Asset Management.。Market analysts believe，As Shenzhen-Hong Kong Stock Connect approaches and the development of Shenzhen Qianhai Financial Services Center，Mainland financial institutions are significantly accelerating their mergers and acquisitions or setting up their own asset management companies in Hong Kong.；Participation of some leading mainland companies and high-net-worth individuals，It also makes relevant licenses "valuable and marketable"，Promote continued activity in license applications and transfers。
Hong Kong license number 9Basic requirements for application
Company Registration and Legal Entities
The entity applying for a Hong Kong financial license must be a company incorporated in Hong Kong，or a non-Hong Kong company registered with the Hong Kong Companies Registry。This is a prerequisite for the entire application process。
Competencies and internal control systems
The applicant organization must have a suitable business structure、Good internal control system and qualified personnel，to ensure that when carrying out the activities described in the business plan，Able to properly manage various risks that may be faced。For detailed guidance, please refer to the following SFC core documents:：
- "Guidelines on Competence"
- Code of Conduct for Persons Licensed or Registered with the Securities and Futures Commission
- "Applicable to the Management of Persons Licensed or Registered by the Securities and Futures Commission"、Supervision and Internal Control Guidelines"
Responsible personAppointment requirements
Each type of applied regulated activity must meet the following Responsible Officers configuration requirements：
- Appoint at least two responsible officers to directly oversee the proposed activities。
- At least one responsible officer can supervise the relevant business at all times。If the candidate is appropriate and the roles do not conflict,，The same person may be appointed as a responsible officer for more than one type of regulated activity at the same time。
- Among the responsible persons to be appointed，At least one must be an executive director as defined in the Securities and Futures Ordinance。
- All executive directors must seek approval from the Securities and Futures Commission，To become a responsible officer of the applicant corporation。
- When submitting your license application，All applications for approval of proposed responsible officers must be submitted to the SFC together，for simultaneous consideration。
Qualifications of suitable candidates for major shareholders and senior personnel
Applicant’s major shareholder、senior staff，and any other person employed or associated with the regulated activity applied for，All candidates must be suitably qualified。The specific evaluation criteria must comply with the provisions of Section 129 of the Securities and Futures Ordinance。
financial resourcesRequire
A licensed corporation must maintain at all times paid-up share capital and liquid capital of no less than the amount specified in the Securities and Futures (Financial Resources) Rules。If applying for more than one type of regulated activity，shall maintain the higher of the specified amount in the relevant category。For Type 9 regulated activity (asset management) the minimum amount under normal circumstances is：
- Paid-up share capital：5,000,000Hong Kong dollar
- Liquid capital：3,000,000Hong Kong dollar
Hong Kong License No. 1and149license platetransfer
Hong Kong License No. 1 is a securities trading license，Together with the No. 9 license, it is one of the core licenses in Hong Kong’s financial market.。Except for direct application，Achieve license transfer by acquiring existing companies holding license No. 149，It is also a more common market operation method in recent years.。Hong Kong Xintong can according to the customer's business layout，Full assistance in applying for No. 1、9No. 1 financial license，And support professional due diligence and compliance arrangements for ready-made license transfer transactions，Also covers pawn shops、finance lease、small loan、commercial factoring、Fund sales、Nationwide payment、Corporate credit report、Application requirements for various types of licenses such as rural banks and financial leasing。
About Hong Kong Xintong
Hong Kong Xintong focuses onHong Kong Securities and Futures Commission license、Hong Kong Insurance Broker License、Hong Kong MSO Licenseandmoneylenders licenseApply for service，Assist customers to applyUS MSB license、NFA、RIA、Canadian MSB license、Mainstream overseas financial licenses such as Australia and Mexico，Support enterprises to achieve compliance expansion of cross-border financial business。Also availableCayman Islands Offshore Company Registration、Offshore fund establishment and global compliance operations and other services，Help enterprises expand their presence in international markets。Provide one-stop compliance solutions for enterprises。To learn more，Please contactHong Kong Information Communications Consultant。
