Circular to licensed corporations Reminder of statutory obligations during SFC inspections to comply with section 180 of the Securities and Futures Ordinance (SFO)
Worth readingConductAll licences
What the SFC said
The SFC reminds LCs to fully cooperate with inspections under section 180 of the SFO, having observed unsatisfactory practices that obstructed supervision. Obligations include giving access to records, maintaining and promptly retrieving records, ensuring RO availability, remaining fit and proper, and accountability for external representatives. Breaches risk supervisory and enforcement action.
This page is our summary and commentary, not the circular itself — always read the original before acting.
Same month in the Record
Get circulars like this explained every Monday.
The 5-minute briefing for Hong Kong’s small licensed firms — free, 7:30am HKT.