Aggregated News From Investment Management Regulators

SFC to introduce next generation digital licensing platform

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The Securities and Futures Commission (SFC) today announced that it will launch its next generation licensing platform on WINGS on 3 January 2022 (Note 1).

The fully digitalised platform will provide a one-stop, comprehensive service for users to prepare, electronically sign and submit licensing forms, track the progress of applications, pay licensing fees and communicate directly with the SFC. A companion mobile application, WINGS Mobile App, will offer key features of the website version (Note 2).

“The next generation digital licensing platform integrates our front-loaded, risk-based approach, aligning our gatekeeping function with our other regulatory priorities.” said Mr Ashley Alder, the SFC’s Chief Executive Officer. “It will help the industry manage licensing matters in a more flexible, secure manner, and communicate more efficiently with the SFC.”

From 3 January 2022, the new electronic licensing forms for licence applications, annual returns, notifications and regulatory filings are to be submitted through WINGS. The SFC will continue to accept paper forms for corporate applications until 31 March 2022.

Notes:

  1. WINGS is a web-based platform for SFC electronic forms and online submission services launched in January 2019. As of today, over 2,600 firms have activated WINGS accounts.
  2. The WINGS Mobile App will be available for download in late January 2022.

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

Regulator Information

Abbreviation: SFC
Jurisdiction: Hong Kong

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