Aggregated News From Investment Management Regulators

SFC proposes to upgrade the industry’s competency standards


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The Securities and Futures Commission (SFC) today launched a consultation on proposals to update its entry requirements for licence applicants (Note 1) as well as its ongoing competency standards for individual practitioners (Note 2).

Under the proposals, the minimum academic qualification requirements would be raised and a broader range of qualifications would be recognised. In addition, applicants would have more flexibility for meeting the industry qualification and regulatory examination requirements. Continuous Professional Training requirements for individual practitioners would also be enhanced (Note 3).

To address the SFC’s concerns about the quality of work performed by some financial advisers on matters regulated by the Codes on Takeovers (Note 4), competence requirements would be upgraded for individuals who are to advise on these matters.

“Raising professional standards is essential to keep up with the evolving and growing complexity of our financial markets,” said Mr Ashley Alder, the SFC’s Chief Executive Officer. “Our proposals aim to help the industry adapt to the changing regulatory landscape whilst minimising the impact on those currently licensed.”

Market participants and other interested parties are invited to submit their comments to the SFC on or before 10 February 2021 via the SFC website (, by email ([email protected]), by post or by fax to 2293 4012.


  1. Licence applicants also include applicants for being an executive officer (EO) under section 71C of the Banking Ordinance and a relevant individual (ReI) whose name is entered in the register maintained by the Hong Kong Monetary Authority under section 20 of the Banking Ordinance.
  2. Individual practitioners include responsible officers, licensed representatives and EOs and ReIs of registered institutions.
  3. The proposed enhancements would involve changes to the Guidelines on Competence and the Guidelines on Continuous Professional Training, both published in March 2003. Details are set out in the consultation paper.
  4. “Codes on Takeovers” refers to the Codes on Takeovers and Mergers and Share Buy-backs.

This news item was originally published by the Securities and Futures Commission (SFC HK). For more information, see the Source Link.

Regulator Information

Abbreviation: SFC
Jurisdiction: Hong Kong

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