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Regulated activities

Any person carrying on a regulated activity has to be licensed or registered with the SFC, unless a specific exemption has been granted.

 

 

 

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Regulated activities

Under the SFO there is a single licensing regime, however a separate authorisation needs to be obtained for each type of regulated activity a corporation wishes to engage in.

The types of regulated activity are:

  • 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

A corporation may apply to be authorised in one or more regulated activity. Financial product/service delineations and boundaries are complex and it is easy to overlook or inaccurately define an aspect of your activities.

Advice should be sought to ensure you obtain the authorisations for the appropriate regulated activities, as there are serious penalties and repercussions for operating without the correct authorisations.