Licensing

Financial institutions will need to apply licenses if they carrying on a business in a regulated activity in Hong Kong. SFC stipulates 10 types of regulated activities which require licenses:

  • Type 1 Dealing in securities
  • Type 2 Dealing in futures contracts
  • Type 3 Leveraged foreign exchange trading
  • Type 4 Advising on securities
  • Type 5 Advising on futures contracts
  • Type 6 Advising on corporate finance
  • Type 7 Providing automated trading services
  • Type 8 Securities margin financing
  • Type 9 Asset management
  • Type 10 Providing credit rating services

 

GCC professional team understand the importance and implication of license application for financial institutions. We assist our clients and handles different licence applications, including SFC licenses for the 10 types of regulated activities, licenses for bank, PIBA (Insurance brokerage), Money Lenders and overseas SFC licenses (Singapore and Australia), Trust company (Hong Kong and Australia), participation in HKEx etc. Our services include:

  • Compliance Advisory for application
  • Provisions of advice for business plan and corporate structure and advice on the key areas that regulatory authorities take into consideration when granting licenses
  • Provision of advice for requirements for Responsible Officers (ROs) and assisting management with identifying qualified ROs
  • Preparation and handling of licensing application
  • Preparation of compliance policies and procedures for the purpose of application
  • Act as the main contact between regulators and clients
  • Negotiation of licensing condition and notify regulators for all relevant changes