Introduction
A new single licensing regime was introduced under the Securities and Futures Ordinance (SFO) which came into operation on 1 April 2003. To comply with this licensing regime, the HKSI launched the Licensing Examination for Securities and Futures Intermediaries (LE) in June 2003. This practical, market focused examination was developed with the assistance of regulators, academics and practitioners drawn from across the financial services industry.
The examination programme consists of ten papers.
The examination
structure, format and fees will differ according to
which papers a candidate sits for. The LE is open to the
public and there is no prerequisite for enrolment.
Candidates have full discretion to attempt any
combination of papers. This industry benchmark
examination has been recognised by both
local regulatory
bodies and
international professional organisations. Candidates
who wish to sit the examination for licensing purposes
are advised to refer to the licensing requirements of
the relevant regulatory bodies before enrolling for the
examination.
Candidates enrolling in any LE Paper now have
the opportunity to enjoy complimentary
student
membership for one year.
Upon the successful completion of a pre-set combination
of examinations, candidates will be awarded an
HKSI Certificate. The LE is the HKSI's new benchmark
qualification for entry to membership and for
progression within membership.
The LE replaces the previous HKSI Foundation Programme
Examination (FPE) and the Financial Market Principal
Programme Examination (PPE). Candidates who partially
completed the FPE examinations with the HKSI and whose
12-month FPE completion period was still valid when the
LE was launched, will be pleased to know that these
examination results are available for
conversion to equivalent papers in the LE for HKSI
Certification purposes.
