The Securities and Futures Commission (SFC) announces that it will no longer issue printed licences to individual licensees with effect from today, when the Securities and Futures (Amendment) Ordinance 2015 came into operation (Note 1).
Previously, new printed licences were issued whenever there was any change in an individual’s licensing particulars, such as a change in principal, type of regulated activity or licensing conditions. The move to paperless individual licenses will reduce the industry’s compliance burden and help protect the environment.
Details of licensed individuals will now only be available at the SFC’s online Public Register of Licensed Persons and Registered Institutions (Note 2).
Investors are encouraged to check the register when considering using the services of licensed individuals and intermediaries. In addition, investors can find information on choosing and dealing with licensed individuals and intermediaries on the website of the Investor Education Centre.
Notes:
- Any printed licence issued to an SFC-licensed individual has ceased to be effective for indicating that the person is licensed.
- The SFC will continue to issue printed licences for licensed corporations and certificates of registration for registered institutions, and these must be exhibited prominently at their places of business.
