SFC Consultation on Competency Requirements for Intermediaries

On 11 December 2020, the Securities and Futures Commission of Hong Kong (SFC) published a Consultation Paper on the Proposed Enhancements to the Competency Framework for Intermediaries and Individual Practitioners (Consultation Paper). In the Consultation Paper, the SFC proposes to amend its Guidelines on Competence (Competence Guidelines) and Guidelines on Continuous Professional Training (CPT Guidelines), which were published in March 2003 and supplement the SFC’s Fit and Proper Guidelines.

This Oversight provides an overview of the enhancements proposed to be introduced by the SFC in regards to the competency framework. It first discusses the proposed amendments to the Competence Guidelines and the CPT Guidelines and compares them against the relevant current requirements. It then looks at the practical implications of the proposed changes.

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