PrepLicense: HK SFC · Study Notes · Paper 2

SFC Paper 2: Regulation of Securities

Paper 2 focuses on regulatory detail of the securities dealing business: client asset protection, account opening, transaction reporting and books and records.

1. 客戶資產分隔

Client money must be held in a segregated trust account; client securities must be held in a custody account designated in the client's name, kept separate from the firm's own assets.

2. 開戶程序與客戶識別 (KYC)

Account opening requires verification of identity, address, contact, financial position, investment experience, objectives and risk tolerance. A signed client agreement and records must be retained.

3. 適合性責任

When soliciting or recommending any financial product, the firm must ensure the product is reasonably suitable for the client, with a written record of the rationale.

4. 複雜產品的銷售規範

Complex products (e.g. accumulators, structured notes) have additional disclosure and Q&A assessment requirements, with enhanced protection for non-professional clients.

5. 交易確認書與月結單

Contract notes must be sent by T+1; monthly statements must show positions, cash balance and transaction details.

6. 會計記錄保存

Accounting records must be retained for at least 7 years; client account records for at least 2 years (or longer where SFC rules require).

7. 打擊洗錢及恐怖分子資金籌集 (AML/CTF)

Governed by the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615): customer due diligence, ongoing monitoring, and suspicious transaction reports to the JFIU.

8. 處理客戶投訴

Firms must operate internal complaint-handling procedures with timely responses; serious cases must be reported to the SFC.

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本應用為獨立學習工具，與證券及期貨事務監察委員會（SFC）及香港證券及投資學會（HKSI Institute）無關，亦未獲其認可。