Prosgy

Reactivation of Type 4, 6, and 9 Regulated Activities SFC Licensed Corporation

The Challenge

Our client was a Type 4, 6 and 9 regulated activities Securities & Futures Corporation (SFC) licensed corporation that was inactive and running in a lean model. They required immediate compliance specialist assistance to assist in the handling of the application to SFC on individual licenses and reactivation of the business.

 

Our Solution

Our compliance specialists spent time with the client and relevant stakeholders to understand their objectives, the problems they are facing and their available resources. We then devised various advice and support to develop the appropriate business plan and support plan and provided full support in all relevant communication with SFC, as well as drafting of relevant materials and responses to ensure the reactivation of the business is achieved and in an efficient manner.

 

Value Add

  1. Our compliance specialist provided insights on the pitfalls in such applications and ensure we proposed practical solutions and advices before submitting the final business plan and individual license applications to SFC and therefore, received full approvals in a much shorter period of time than expected.
  2. We handled all correspondences with SFC, alleviated the pressure from the frontline staff, who had limited experiences in compliance function.
  3. We also provided information as to what are the necessary preparation in terms of back office support, policies and procedures and standard documentation etc., necessary to launch the new businesses.