SECURITIES AND FUTURES COMMISSION
8th Floor, Chater House, 8 Connaught Road Central, Hong Kong
香港中環干諾道中八號遮打大廈八樓
Our ref: 250/LC/24
12 December 2003
Circular to Licensed and Registered Persons
Relaxation for Former Practitioners to Re-enter the Industry
To facilitate re-entry into the industry, the SFC’s Academic and Accreditation Advisory
Committee has decided that former practitioners who had left the industry for between three
to eight years may be exempted from the relevant competence examinations (including both
industry qualification and local regulatory framework) when they re-apply for a licence or
seek to be re-engaged by a registered institution as a relevant individual to practise in the
same regulated activity and role as before. Hitherto only former practitioners who had been
licensed or acting as a relevant individual of a registered institution within the past three
years were exempted.
To be eligible for the new exemption, applicants must also meet at least one of the following
requirements:
•
Completion of five Continuous Professional Training (CPT) hours for each year of
absence from the industry. Regulatory training must make up at least 50% of the CPT
activities;
•
Attendance at a specialised course conducted by the Hong Kong Securities Institute in
respect of securities or futures, or the Vocational Training Council in respect of
leveraged foreign exchange. Course details will be announced by the two
organisations in due course.
This topic will be added to the “Frequently Asked Questions” of the “Competence” section in
the SFC’s website (www.hksfc.org.hk).
Licensing Department
Intermediaries and Investment Products Division
-1SFC Website: http://www.hksfc.org.hk
Electronic Investor Resources Centre: http://www.hkeirc.org