Business plan sfc. Buying an SFC-licensed entity? 5 things you should know - Lexology
We may, however, collect a very limited amount of your personal data by "personal data", we mean information about you or which can be used to ascertain your identity. Management is key Each licensed corporation requires at least two responsible officers for each regulated activity — otherwise the regulated business must be suspended.
Based on our experience: The SFC may impose reasonable conditions on the applicant and the licensed corporation and may amend, revoke or impose new conditions by notice in writing.
- Persons only providing a back office function such as General Counsel or Compliance Officer are unlikely to be approved as a Responsible Officer.
- SFC licensing and compliance hints - Lexology
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The substantial shareholder of the company must be disclosed to and approved by the SFC and do your homework dvd be fit and proper. You need contractual protections There are several risks that arise with acquiring an SFC-licensed entity, ranging from a failure to obtain SFC approval for a particular substantial shareholder, to tail liability for things like investor master thesis - logistics management or regulatory penalties.
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Buying an SFC-licensed entity? 5 things you should know - Lexology
For a company advising on takeovers, mergers and share buy-backs, ROs must satisfy the SFC that they have the experience of supervising at least one complete transaction under the Codes on Takeovers and Mergers and Share Buy-backs. To liaise with relevant advisers, where necessary, to ensure that the important legal, tax essay on multitasking woman accounting issues related to the applications are addressed.
You are urged to seek your own legal counsel concerning your own situation and any specific legal question that you may have. Type 6 RO application, the applicants are required to demonstrate extra competence: Importantly, a substantial shareholder can be an individual or a corporation.
SFC licensing and compliance hints
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