Click here to get this post in PDF. Too long to read? Enter your email to download this post as a PDF. We will also send you our best business tips every 2 weeks in our newsletter. You can unsubscribe anytime. In business, change is often regarded as a risk.
Times Change and So Should Your Business Plan: Reasons Behind Changing Business Plan
Obtaining an SFC Licence: 10+1 things to know - Allen & Overy
The circular states that, even if there is a change of substantial shareholder, this does not alter the requirement under the SFO for ROs to properly supervise the regulated activities and manage the risks associated with the business. Changes of substantial shareholders 4 in an SFO registered intermediary require advance written approval of the SFC 5. In the circular, the SFC underlines that the vetting process for a new substantial shareholder is no less stringent or time consuming than that for a fresh intermediary application. To emphasise the point, the SFC say that, in considering an application to approve a change in substantial shareholder, they may enquire into issues such as source of funding and financial strength as well as potential changes in the business plan and senior management after the takeover is completed.
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Business plans are living documents. You want to refinance or fundraise. You launch a new product or service.
The Securities and Futures Commission SFC has published a set of frequently asked questions FAQs on licensing related matters to facilitate intermediaries and licensing applicants in navigating their compliance challenges during the COVID pandemic. The SFC aims to provide regulatory flexibility whilst ensuring that market integrity and investor protection principles are maintained. Some of the more pertinent issues covered by the FAQs are set out below.
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