2024 Sfc client asset

Sfc client asset

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August undefined, 2024

WebOct 31, 2024 · This circular sets out the requirements under which the Securities and Futures Commission (SFC) would consider authorising exchange traded funds (ETFs) … WebDec 19, 2024 · IV. Safeguarding of client assets Overall controls for client assets Involvement of AEs in handling client assets Direct confirmation of clients’ account balances 20 V. Handling of trade documents Overall controls for handling of trade documents Follow-up procedures for undelivered or returned mail Hold-mail …

SFC calls for client asset acknowledgement letters

WebNov 18, 2024 · A hedge fund manager will normally be carrying on Type 9 regulated activity (RA9). However, some asset managers may require an SFC Type 1 license for dealing … WebDec 8, 2024 · The SFC has discretion to impose a range of licensing conditions on a VASP licensee, including conditions relating to financial resources, risk management policies and procedures, management of client assets, virtual asset listing and trading policies, prevention of market manipulation and abusive activities, avoidance of conflicts of … how to take list as input in python function

SFC License Type 9 – HK Law Firm - Timothy Loh LLP

WebMar 29, 2024 · On January 28, 2024, the Securities and Futures Commission (“ SFC ”) and the Hong Kong Monetary Authority (“ HKMA ”) issued a “Joint Circular on Intermediaries’ Virtual Asset Related Activities” (“ 2024 Crypto Regulation Circular ”). WebJan 28, 2024 · The SFC and the HKMA wish to highlight that under the Terms and conditions, intermediaries should only permit clients to deposit or withdraw fiat currencies from their accounts, and should not allow the deposit or withdrawal of client virtual assets, so as to minimise the risks associated with the transfer of virtual assets. WebMar 17, 2003 · Nor should securities be treated as client securities or as securities collateral where: securities are delivered to a licensed corporation pursuant to a stock … ready to cook meals packaging

Circular on Virtual Asset Futures Exchange Traded …

WebThe SFC will also be given the power to intervene in the operations of a VASP to protect client assets where necessary. For example, the SFC may prohibit licensees from … WebJun 20, 2024 · Common licensing conditions are: The company shall not hold client assets. The company shall only provide services to professional investors. For Type 1 regulated activity, the company shall only carry on the business of … how to take liquid fish oilWebAug 12, 2024 · The SFC states that, “such clauses are fundamentally incompatible with the requisite standard of protection afforded to client assets under the Code of Conduct.” As a result, the SFC has included a no-recourse clause … how to take liquid magnesium

"Web17 hours ago · Early access to the exchange has already begun, with users able to trade from 9 am to 5 pm on Hong Kong business days. Once fully launched, HashKey PRO will operate 24/7. HashKey has been one of the more active organizations in helping to build up the digital assets landscape in Hong Kong as the region looks to become a crypto hub. … " - Sfc client asset

Sfc client asset

WebJul 21, 2024 · There is no evidence of losses for customers The Securities and Futures Commission (SFC) has reprimanded RBC Investment Services (Asia) and fined it HK$7.7m (£820,000, $980,000, €960,000) for regulatory breaches … WebWindows: Right click on any SFC file and then click "Open with" > "Choose another app". Now select another program and check the box "Always use this app to open *.SFC …

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WebJun 7, 2024 · In this respect, in November 2024, the SFC published a position paper [8] which outlined the regulatory standards for the licensing of trading platforms that enable trading of crypto assets which have “securities” features. V. Proposed licensing requirements for licensed VASPs WebJul 8, 2024 · The Securities and Futures Commission (SFC) reminds intermediaries of their obligations to comply with the requirements under the Code of Conduct [1] when they are …

WebInvestment advisory Financial hedge advisory Discretionary asset/portfolio management Trade execution Custody services for client assets, securities and funds. www.sfc-uk.com www.sfc-uk.com www.sfc-uk.com. Related Interests. Foreign Exchange Market; Contract For Difference; Fixed Income; Futures Contract; Derivative (Finance) Footer menu. Back ... WebFeb 28, 2024 · The Hong Kong Securities and Futures Commission (SFC) published on 20 February 2024 a consultation paper on the proposed regulatory requirements for operators of virtual asset trading platforms (VATPs) (the Consultation Paper). The consultation period will last until 31 March 2024.

WebMar 10, 2024 · On 20 February 2024, the Hong Kong SFC published a Consultation Paper setting out the proposed regulatory requirements for licensed Virtual Asset Service … WebMar 1, 2024 · Protection of client assets has long been a key focus area for the SFC. The key requirements include the following: On trust and segregated. Client assets must be held on trust and segregated from the Licensed Provider’s own assets. Held by an Associated Entity. Client assets must be held by a subsidiary (the “Associated Entity”) …

WebSep 3, 2024 · A Guide to Applying for an SFC License. Hedge fund managers, private equity sponsors and other asset managers as well as brokers, dealers, wealth managers and other providers of investment services and investment products are often keen to establish a foothold in Hong Kong. A threshold question, however, is whether their …

WebApr 14, 2024 · On a mission to set the bar for virtual asset exchanges in compliance, safety, and security, HashKey PRO has received regulatory approval from the Securities and Futures Commission of Hong Kong (“SFC”) to operate a virtual asset trading platform under a Type 1 (Dealing in securities) licence and a Type 7 (Providing automated trading ... ready to cook meal kitWebOct 11, 2024 · On 4 October 2024, the Securities and Futures Commission (SFC) published proforma terms and conditions which will apply to virtual asset fund managers that meet specified criteria.This follows the SFC’s statement of 1 November 2024 regarding the regulatory framework for virtual asset fund managers, fund distributors and trading … how to take liquids out of smelteryWebMar 16, 2024 · Hong Kong’s Securities and Futures Commission (SFC), the country’s paramount securities regulator, hit brokerage firm DBS Vickers Securities with a $2 million fine on Thursday over regulatory breaches and internal control failings which resulted in under and over-segregation of Client Money . how to take loan on propertyWebA new licensing regime for virtual asset service providers ( VASPs) will come into effect on 1 March 2024 under proposed amendments to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (the AMLO) which were introduced to Hong Kong’s Legislative Council on 6 July 2024. 1 The proposed amendments are set out in the ... how to take linhua how to take liquids in hand luggageWebSep 3, 2024 · The SFC’s view is that such rights are fundamentally incompatible with the requisite standards of protection which should be accorded to client assets under the … ready to cook meals by mailWebOct 31, 2024 · The SFC understands that this is the first time that VA Futures ETFs may seek authorization from the SFC. If you wish to seek clarification of any aspects of this circular, please contact the team supervisor or case officer of the Investment Products Division who is responsible for overseeing the SFC-authorized funds of your fund group … ready to cook meal