SFC HKSI LE — 17 Papers Overview

All 17 papers

The HKSI Licensing Examination is set by the SFC and administered by the HKSI Institute, comprising 17 papers in total. Paper 1 is the common compulsory regulation paper for every SFC Regulated Activity (RA 1–10). The remaining papers split into Regulation Papers and Practice Papers, and candidates take the combination required by their RA licence.

• Paper 1: Fundamentals of Securities and Futures Regulation · 證券及期貨從業員基本法規
• Paper 2: Regulation of Securities · 證券業規例
• Paper 3: Regulation of Securities Margin Financing · 證券保證金融資業規例
• Paper 4: Securities and Futures — Compliance · 證券及期貨業合規
• Paper 5: Regulation of Futures and Options · 期貨及期權業規例
• Paper 6: Regulation of Corporate Finance · 財務顧問業規例
• Paper 7: Financial Markets · 金融市場
• Paper 8: Securities · 證券
• Paper 9: Regulation of Collective Investment Schemes · 集體投資計劃業規例
• Paper 10: Collective Investment Schemes · 集體投資計劃
• Paper 11: Corporate Finance · 財務顧問
• Paper 12: Futures and Options · 期貨及期權
• Paper 13: Securities Margin Financing · 證券保證金融資
• Paper 14: Regulation of Asset Management · 資產管理業規例
• Paper 15: Asset Management · 資產管理
• Paper 16: Regulation of Depositary Services · 存管服務業規例
• Paper 17: Depositary Services · 存管服務

How to pick papers

Different RAs require different paper combinations — for example, RA 1 (Dealing in Securities) typically needs Paper 1 + 7 + 8; RA 2 (Dealing in Futures Contracts) typically needs Paper 1 + 5 + 12; RA 9 (Asset Management) typically needs Paper 1 + 14 + 15. The authoritative RA-to-paper mapping is published by the SFC and the HKSI Institute.

See the SFC LE exam guide and the FAQ for more.