SFC to raise standards for industry professionals

The revised guidelines will take effect on January 2022.

The Securities and Futures Commission (SFC) will be raising the minimum competency requirements for individual industry practitioners.

This comes after the commission concluded its consultations on its proposal to update the entry requirements for license applicants as well as the competency standards for corporations and practitioners.

“Raising the professional standards of our industry practitioners is crucial to maintain quality markets, particularly in view of the rapidly evolving financial landscape,” Ashley Alder, the SFC’s Chief Executive Officer, said.

“We are pleased that the industry shares this vision and overwhelmingly supports our proposals.”

On top of raising the minimum academic qualification requirements for individuals, it will be enhancing the competence requirements for individuals advising on matters in relation to the Codes on Takeovers.

The SFC also agreed to recognise post-graduate diplomas and certificates in designated fields as well as clarified the management experience required of an RO applicant and the corporate finance experience of those who intend to advise on matters in relation to the Codes on Takeovers.

The SFC will also include environmental, social and governance (ESG) as a relevant topic for continuous professional training purposes.

The revised Guidelines on Competence, Guidelines on Continuous Professional Training and Fit and Proper Guidelines will be gazetted on 25 June 2021 and take effect on 1 January 2022.

Follow the links for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Unemployment rate rises to 5.4% from February to April
The total number of unemployed people stands at 206,100.   The unemployment rate rose by 0.4 percentage points to 5.4%  from February to April, when compared to the January to March period.    Based on the data from the Census & Statistics Department (C&SD), the total number of unemployed people from February to April was 206,100, an increase of 17,600 from the preceding three-month period.   Meanwhile, the number of unemployed rose by around 25,000 to 142,000, translating to a rate of 3.8%.   With the increase in the number of jobless and underemployed individuals, total employment dropped to 3,559,200, whilst the labour force fell to 3,765,300.   The deterioration of Hong Kong’s labour market however should see an improvement in the coming months, according to Secretary for Labour & Welfare, Dr Law Chi-kwong.   The receding local epidemic situation and progressive relaxation of social distancing measures, the new round of Consumption Voucher Scheme, and Other relief measures including the 2022 Employment Support Scheme should help drive improvement in the employment sentiment, said the C&SD.  
Economy