CPTEnglishIntermediate· Asset & Wealth Management, Licensing & Regulations

Setting Up an Asset Management Business in Hong Kong

A practical guide to licensing, fund structures, and digital assets for professionals.

Legal & Compliance 1.25h 47 lessons

What you'll learn

Identify the types of regulated activities and licensing requirements under the SFO for asset management businesses
Explain the key structural features, registration process, and ongoing obligations of Limited Partnership Funds in Hong Kong
Describe the regulatory framework governing Open-Ended Fund Companies, including director, investment manager, and custodian requirements
Distinguish between public and private OFC structures and apply general principles of OFC operations
Outline the key provisions of Hong Kong's Stablecoins Ordinance, including licensing, prohibited activities, and reserve requirements
Apply knowledge of ongoing compliance obligations including AML, record-keeping, and notification requirements

About this course

This CPT course provides a technical examination of the regulatory landscape for establishing and managing asset management businesses in Hong Kong. It addresses the Securities and Futures Ordinance (SFO) framework, the operational requirements for licensed corporations, and the practical application of the Limited Partnership Fund (LPF) and Open-Ended Fund Company (OFC) regimes. For licensed professionals, maintaining currency with these statutory requirements is essential for ensuring institutional compliance and upholding the standards expected by the Securities and Futures Commission (SFC). The course explores the intersection of licensing, fund structuring, and the ongoing administrative obligations that define the daily operations of Hong Kong-based investment managers. Participants will review the specific criteria for licensed corporations, the responsibilities of authorized personnel, and the technical requirements for establishing collective investment vehicles. It also incorporates the regulatory expectations for Anti-Money Laundering (AML) protocols and the structural considerations for family offices and private equity firms operating within this jurisdiction. The curriculum is organized into modular units that progress from the fundamental regulatory requirements under the SFO to the procedural intricacies of fund registration and governance. By analyzing the statutory definitions of funds, the roles and liabilities of general partners, and the corporate governance standards for OFCs, attendees will gain a clearer understanding of the compliance lifecycle. The final sections focus on the ongoing notification requirements, the application of AML documentation, and the consequences of regulatory non-compliance, providing a complete view of the operational responsibilities inherent in the Hong Kong financial services sector.

Who should attend

Compliance Officers and Managers
Responsible Officers (ROs)
Licensed Representatives
Legal Counsel specializing in Financial Services
Fund Administrators
Family Office Principals and Operations Staff

Key topics covered

SFC Licensing and Regulatory Framework

Regulated activities under the SFO
Licensing criteria for corporations and individuals
Responsible Officer competence and industry experience requirements
Regulatory exemptions and fit and proper standards
Ongoing notifications and continuous professional training

Limited Partnership Fund (LPF) Operations

Legislative purpose and statutory definitions of a fund
Registration procedures and eligibility requirements
Rights, duties, and liabilities of general and limited partners
Safe harbors for limited partner participation
AML framework and customer due diligence integration

Open-Ended Fund Company (OFC) Governance

Regulatory framework for public and private OFCs
OFC Code compliance and operational expectations
Director qualifications and independence standards
Investment manager and custodian structural requirements
Regulatory actions and non-compliance consequences

How this course satisfies CPT

This course covers Asset & Wealth Management, Licensing & Regulations topics recognised by the SFC as eligible for CPT. Upon completion, you'll earn approximately 1.25 CPT hours and receive a certificate of completion for your training records. The course includes quizzes to verify your understanding, satisfying the SFC's requirement that online learning includes an independent assessment and maintains a reliable audit trail.

Learn more about CPT requirements

Curriculum · 47 lessons

1:29:04.2 of content

1.
Understanding Types of Regulated Activities Under SFO
FREE
1:15.7
2.
General Licensing Requirements for Corporations and Individuals
FREE
0:51.8
3.
Exemptions From Licensing Requirements Under SFO
FREE
0:57.2
4.
The General Fit and Proper Requirement Criteria
1:05.9
5.
Specific Approval Criteria for Licensed Corporations
FREE
1:06.8
6.
Competence and Authority Requirements for Responsible Officers
1:09.9
7.
Relevant Industry Experience for Responsible Officer Applications
FREE
1:09.2
8.
Licensing Considerations for Family Offices and Private Equity
1:07.3
9.
Quiz: Understanding Types of Regulated Activities Under SFO – Licensing Considerations for Family Offices and Private Equity
QUIZ
5 questions · requires lessons
10.
Overview of Ongoing Obligations After Licensing
1:11.6
11.
Basic Ongoing Requirements for Licensed Intermediaries
1:34.1
12.
Ongoing Notification Requirements for Licensed Persons
1:50.7
13.
Continuous Professional Training Requirements for Licensees
1:56.7
14.
Regulatory Actions and Consequences of Non-Compliance
1:17.3
15.
Legislative Purpose and Strategic Context of LPFs
2:16
16.
Understanding the Statutory Definition of a Fund
2:11
17.
Exclusions from the Statutory Fund Definition
2:11
18.
Quiz: Overview of Ongoing Obligations After Licensing – Exclusions from the Statutory Fund Definition
QUIZ
5 questions · requires lessons
19.
Division 1 Eligibility Requirements for Fund Registration
2:11
20.
Application and Registration Procedure Framework
2:08
21.
Division 1 Fundamental Operational Characteristics
2:17
22.
General Partner Eligibility and Categorization
2:00
23.
General Partner Duties and Liability Structure
2:08
24.
Limited Partner Rights and Liability Protections
1:59
25.
Permitted Activities and Management Safe Harbors
2:05
26.
Division 5 Anti Money Laundering Framework
2:09
27.
Quiz: Division 1 Eligibility Requirements for Fund Registration – Division 5 Anti Money Laundering Framework
QUIZ
5 questions · requires lessons
28.
Anti Money Laundering and Transaction Documentation
2:02
29.
Key Takeaways from the LPF Ordinance Framework
2:10
30.
Introduction to the Limited Partnership Fund Ordinance
1:53
31.
Understanding the Open-Ended Fund Company Framework
2:18
32.
Comprehensive Regulatory Framework for OFCs
2:02
33.
Structural Requirements for Public and Private OFCs
2:41
34.
Director Qualifications and Independence Standards
2:20
35.
Investment Manager Fitness and Operational Duties
2:14
36.
Quiz: Anti Money Laundering and Transaction Documentation – Investment Manager Fitness and Operational Duties
QUIZ
5 questions · requires lessons
37.
Custodian Eligibility Standards for Public Private OFCs
2:22
38.
General Principles for OFC Operations
2:09
39.
General Principle Four Managing Conflicts of Interest
2:09
40.
General Principle Five Effective Disclosure Standards
2:01
41.
Key Takeaways of the OFC Regulatory Regime
2:11
42.
Introduction to the Stablecoins Ordinance
2:00
43.
Defining Stablecoins: Five Essential Core Characteristics
1:58
44.
Specified Stablecoins and Regulatory Scope
2:02
45.
Quiz: Custodian Eligibility Standards for Public Private OFCs – Specified Stablecoins and Regulatory Scope
QUIZ
5 questions · requires lessons
46.
Regulated Stablecoin Activities and Licensing Requirements
2:04
47.
Licensing Framework and Connected Stablecoin Activities
1:57
48.
Reserve Assets and Redemption Framework for Holders
1:59
49.
Section 8: Prohibition on Unauthorized Regulated Stablecoin Activity
2:03
50.
Section 9: Prohibition on Offering Specified Stablecoins
2:10
51.
Part 2 Overview: Regulation of Specified Stablecoin Activities
2:03
52.
Integration with Hong Kong's Financial Regulatory Architecture
2:07
53.
Quiz: Regulated Stablecoin Activities and Licensing Requirements – Integration with Hong Kong's Financial Regulatory Architecture
QUIZ
5 questions · requires lessons

Requirements

Basic understanding of Hong Kong's financial services regulatory environment
Familiarity with fund or investment management concepts at an introductory level
Recommended: completion of an introductory course on SFO licensing or financial regulation in Hong Kong

Certificate of Completion

Complete this course to earn a verifiable Certificate of Completion for your CPT training record. Here's how:

1Watch all the lessons — work through every lesson in the curriculum. Each completed lesson brings your progress closer to 100%.
2Pass all the quizzes — score 70% or higher in each quiz within the course. Quizzes are part of the curriculum and must be passed to finish.
3Download your certificate — once you reach 100% progress, download a personalised Certificate of Completion showing your name, the CPT hours earned, and your quiz score.

Sample certificate: