Is there a minimum education requirement for the securities industry?
The licensing requirements for the securities industry are set by the Securities and Futures Commission (SFC) and compiled into the Guidelines on Competence. All intermediaries who wish to be licensed or registered for regulated activities are required to abide by this guideline.
SFC lists the educational requirements for intermediaries (individuals) in the Guideline on Competency Guidelines. The minimum academic qualification required to apply for a license is to pass Chinese+ Mathematics or English+ Mathematics subjects in the Hong Kong Certificate of Education Examination (HKCEE) or the Hong Kong Diploma of Secondary Education Examination (HKDSE), or equivalent or higher qualifications. In other words, it is not a big deal if you fail in other subjects, but apparently passing mathematics is a requirement that the Securities and Futures Commission attaches great importance to. If students are taking other courses, such as Yijin, Advanced Diploma, etc.,you should also pay attention to whether the qualifications are equal to or higher than the qualifications of the Chinese+Mathematics pass or English+Mathematics pass in the Hong Kong Diploma of Secondary Education Examination (HKDSE).
If the students do not meet the requirements in terms of academic qualifications, that does not mean there are no other solutions for getting an SFC license. If students have internationally recognized professional qualifications, such as Chartered Financial Analyst (CFA), International Certified Investment Analyst (CIIA®) and Certified Financial Planner (CFP), or 5 years of securities-related industry experience, these alternative qualifications can override the academic requirements. Over the years, We have encountered different questions from our students asking questions like: “If I only took the CFA Level 1 or Level 3 exam, would that be considered as a CFA qualification?” The answer is: It will not be considered as a full CFA qualification. In other words, in order to be eligible to use the “Chartered” designation, you must not only partake in all three levels of the CFA exams, but also need to have 3-4 years experience in the financial industry; hence if you wish to get exempted in the HKSI LE Paper 7-12, or wants to use your CFA qualification to substitute minimum academic qualification requirements, you will need to be a chartered one.
In addition, some students asked how they can obtain industry experience without a license, you can refer to: How is industry experience considered when it comes to HKSI LE exemption?
For details of the ” Guidelines on Competency”, please refer to:https://www.sfc.hk/-/media/EN/assets/components/codes/files-current/web/guidelines/guidelines-on-competence/Guidelines-on-Competence.pdf
How can we help?
2CExam provides HKSI LE, IIQE, EAQE and SQE related exam preparation materials. We sell mock question banks for HKSI LE Papers 1, 2, 3, 5, 6, 7, 8, 9, 11, 12 in Chinese and English; and bibles for HKSI LE Papers 1, 2, 6, 7, 8 in Chinese. We also offer 1 on 1 tutorial services. Besides, we have also made free tutorial videos for HKSI LE Papers 1, 2, 6, 7, 8, 11, 12 and posted on public channels such as Youtube/ Bilibili/ Tencent/ Iqiyi. 2CExam has been an exam training expert for years. Should you need any help please visit www.2cexam.com or contact us through:
Phone +852 2110 9644 Email: [email protected] Wechat: hk2cexam WhatsApp: +852 9347 2064
Please support us by leaving comments and likes if you think this article helps you!
You can scan or click on the QR codes to visit our social media.
Latest Article
Categories
過往文章
Contact US
-
Phone:
+852 2110 9644
-
Email:
-
WhatsApp
+852 9347 2064
-
WeChat
hk2cexam
Interesting Articles
Minimum academic requirements for applying for an IA license
Is there a minimum education requirement for the insurance industry? The conditions for licensing in the insurance industry are included in the “Fit and Proper” Guidelines (GL23/Guideline 23) issued by the Insurance Authority. All intermediaries who wish to be licensed must abide by this guideline. IA listed the educational requirements for intermediaries…
How should I apply for a license if I want to engage in the real estate industry? What conditions must I meet?
First of all, to apply for a real estate intermediary license, you need to meet the “Fit and Proper” Guidelines issued by the Estate Agent Authority, such as passing EAQE or SQE. Secondly, The financial status of the applicant will also be reviewed, and the applicant cannot be under bankruptcy status or enter…
How do I apply for a license if I want to engage in the insurance industry? What conditions must I meet?
The insurance industry can not only help some people who may have urgent needs in the future, but also enables agents to possibly make a lot of money, as well as meet wealthy people, hence it is a very attractive profession. To go back to the basics, if a candidate wants to sell insurance…
How should I apply for a license if I want to engage in the securities industry? What conditions must I meet?
In the finance, banking, and securities industries, there are millions of assets flowing in and out everyday to say the least. Many people are eager to meet wealthy people, earn a generous amount of commission income, and even easily be in control of the stock market. However, to go back to the basics, if…
Who should I contact if I have questions about licensing in the real Estate industry? Why can’t I contact PEAK? Should I contact 2CEXAM?
Many students who want to become insurance intermediaries may have some questions regarding what exams to take and what to pay attention to when issuing licenses; with that, they might not know who to ask. Should candidates ask 2CExam? PEAK? Or the Estate Agents Authority ? In fact, PEAK is only responsible for…
Who should I contact if I have questions about licensing in the insurance industry? Why can’t I contact PEAK? Should I contact 2CEXAM?
Many students who want to become insurance intermediaries may have some questions regarding what exams to take and what to pay attention to when issuing licenses; with that, they might not know who to ask. Should candidates ask 2CExam? PEAK? Or the Insurance Authorities? In fact, PEAK is only responsible for organising exams,…
Who should I contact if I have questions about licensing in the securities industry? Why can’t I contact HKSI? Should I contact 2CEXAM?
Many students who want to become securities practitioners may have some questions regarding what exams to take and what to pay attention to when issuing licenses; with that, they might not know who to ask. Should candidates ask 2CExam? HKSI? Or the SFC? In fact, HKSI is only responsible for organising exams, issuing…
What is the difference with the IIQE examination after the Insurance Authority (IA) takes over the insurance industry?
The long-standing self-regulatory method of the insurance industry officially ended on September 23, 2019. Beginning on September 23, 2019, the Insurance Authority (IA) took over the management of all compliance, licensing, monitoring and disciplinary matters for the entire insurance industry. After taking over, the Insurance Authority (IA) has also made changes to some of…
Is the Estate Agents / Salespersons Qualifying Examinations paper-based exam or the computer-based exam easier? Which is better to partake in?
Many people are curious about the differences between the EAQE/SQE’s computer- based exam and the paper- based exam. As per the two exams’ content, they are pretty much identical. The two exams use the same Study Guide to Estate Agency Law and Practice and other study material, the exam questions are drawn in…
Is the IIQE paper based exam or computer based exam easier? Which exam is better to partake in?
Many people are curious about the differences between the IIQE’s computer-based exam and the paper-based exam. As per the two exams’ content, they are pretty much identical. The two exams use the same Study Guide, the exam questions are drawn in the same question bank. Some people say that they have taken a…