Overview

The Securities and Futures Commission’s (“SFC”) consultation conclusions (“Consultation Conclusions”) on the proposed Guidelines for Market Soundings (“Guidelines”) are now in force since 2 May 2025, meaning Licensed Corporations (“LCs”) or Registered Institutions (“RIs“) should have already reviewed and updated their internal policies, procedures and controls to ensure full compliance.

Where this has not yet been completed, a gap assessment must be conducted immediately to address any deficiencies in policies, procedures, and associated controls. Additionally, relevant staff including key personnel involved in market soundings must be trained on the updated requirements.

Looking ahead, firms should aim to schedule a follow-up review in Q4 2025 to assess the design and operating effectiveness of the implemented controls to ensure they are functioning as intended. Given the potential regulatory risks associated with non-compliance, firms must act promptly to close any gaps and plan proactively for the upcoming review to ensure the new regime is properly embedded in practice.

Content

This is a joint webinar with Private Wealth Management Association (PWMA), the key topics to be covered include:

• Key requirements and scope of application
• Implications for buy-side and sell-side firms
• How to implement the requirements, including key control enhancements required
• Industry insights and views of sound practice
• Remaining areas of uncertainty and how to navigate key risks and challenges
• Implementation timeline and immediate steps firms should be taking

Who should attend

Senior management including MICs, ROs, Directors, Compliance Officers, Surveillance Officers and licensed individuals in the business/front-office involved in conducting market soundings from LCs or RIs (on both the buy-side and sell-side).

Financial Incentive Scheme of the WAM Pilot Programme

This course has already been approved as an eligible course of the Financial Incentive Scheme for Professional Training (“the Scheme”) under the Pilot Programme to Enhance Talent Training for the Asset and Wealth Management Sector (“the Pilot Programme”). The Scheme aims to enhance the competency and professionalism of in-service practitioners within the asset and wealth management sector and to assist other practitioners within the financial services industry in acquiring the knowledge and skills required for entering the sector. Eligible applicants will be subsidised 80% of the course fees by the HKSAR Government upon satisfactory completion of the courses approved by Hong Kong Securities and Investment Institute, subject to a ceiling of HK$15,000. Hong Kong Securities and Investment Institute is appointed as the implementation agent of the Pilot Programme. Regarding the details of eligible criteria and application procedures, please refer to the dedicated web-site of the Pilot Programme (https://www.wamtalent.org.hk/).