In Hong Kong, conducting securities business is a regulated activity under the Securities and Futures Commission (SFC), requiring the relevant licenses. To obtain a license, one must meet the requirements of the “Competency Guidelines.” In addition to having a certain level of education, one must also possess recognized industry qualifications and pass local regulatory framework exams. The latter two are related to the Hong Kong Securities and Futures Commission (HKSI) qualification exams for securities and futures practitioners.
The HKSI qualification exams for securities and futures practitioners consist of multiple papers (currently 15 papers in total). Is it possible to be exempted from any of these papers? The answer is, yes!
How can one be exempted, and which papers are eligible for exemption? The exemption conditions for SFC licensed representatives are as follows:
1.If you have a bachelor’s degree or higher in accounting, business administration, economics, finance, financial management, or law, you can be exempted from Papers 7-12.
2.If you majored in other subjects in college but took elective courses in accounting, business administration, economics, finance, financial management, or law during your bachelor’s degree or higher studies and passed at least two exams in those subjects, you can also be exempted from Papers 7-12.
3.If you majored in other subjects in college and did not take the above courses, but have at least two years of relevant securities industry experience within the past five years, you can still be exempted from Papers 7-12.
4.If you hold internationally recognized financial and financial professional qualifications such as the Chartered Financial Analyst (CFA), Certified International Investment Analyst (CIIA), or Certified Financial Planner (CFP), you must be exempted from Papers 7-12.
5.If you do not have a bachelor’s degree or higher and do not have internationally recognized financial and financial professional qualifications, but have passed Chinese or English + Mathematics in the Hong Kong Diploma of Secondary Education (HKDSE) examination and have at least two years of relevant securities industry experience within the past five years, as well as have completed relevant additional continuing education (i.e., the applicant must complete an additional 5 hours of continuing education related to the regulated activity applied for within six months before submitting the application), you can still be exempted from Papers 7-12.
If none of the above conditions are met, then exemptions are not possible.
Furthermore, the local regulatory framework exams, i.e., the HKSI LE regulatory papers (Papers 1 to 6), cannot be exempted in any case.
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, 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, 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:
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