Regulatory Alerts2021-06-21
Added · Updated
Enhancements to Competency Framework for Intermediaries and Individual Practitioners
The Hong Kong Monetary Authority informs authorized institutions of the Securities and Futures Commission's revised Guidelines on Competence, Continuous Professional Training, and Fit and Proper standards effective 1 January 2022. Registered institutions must review these updates, which include raised academic qualifications, simplified Continuing Professional Training requirements, and clarified management experience criteria, to ensure their relevant individuals remain compliant. This circular emphasizes that maintaining competence is a statutory condition for registration and a key element of the fit and proper test for all regulated entities.
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