Licensing Examination for Securities and Futures Intermediaries

Updating Your Study Manuals

Amendments and updates of the LE study manuals are made periodically or when deemed necessary to reflect changes in applicable laws, rules, regulations, codes and market practices in Hong Kong.  Once an update is released, an announcement will be made on the HKSI Institute website.  The latest version or edition of the relevant eStudy Manuals will be available for candidates who are affected, to download via the HKSI Institute Online Portal.  A list of major updates made to the last version will also be placed at the end of the eStudy Manuals for candidates’ reference (not applicable to updates for changes in edition, e.g. from the first-edition to second-edition).  The CD version and hardcopy version of the latest LE study manuals will also be made available for sale at the HKSI Institute office.  Major updates will also be included in the same way as the eStudy manuals.

However, candidates should be aware that the latest regulatory and market information may not be immediately incorporated in the LE study manuals due to the rapid changes in the securities and futures industry.  Candidates are therefore reminded to keep abreast of any updates or amendments of the relevant laws, regulations and requirements by making reference to such updates or amendments published by the relevant authorities from time to time.

For the purpose of the examination, however, unless updates on the relevant part of the LE study manuals are provided by the HKSI Institute, questions will only be based on materials in the LE study manuals that are still current.

The table below shows the latest version number of the LE study manuals released:

Study Manuals Published in Version No.
Paper 1: Fundamentals of Securities and Futures Regulation Jul 2017 2.9
Paper 2: Regulation of Securities May 2017 2.4
Paper 3: Regulation of Derivatives (Valid for LEs up to and including 28 November 2017) Feb 2017 2.3
Paper 3: Regulation of Derivatives (Valid for LEs from 29 November 2017) Sep 2017 2.4
Paper 4: Regulation of Credit Rating Services May 2016 2.0
Paper 5: Regulation of Corporate Finance Dec 2014 2.0
Paper 6: Regulation of Asset Management Oct 2016 2.2

* The LE does not comprise Paper 13 and Paper 14.

Qualification