Comprehensive retained compliance support covering monthly FRR financial filings, annual statutory reporting, WINGS change notifications, and regulatory inspection readiness.
Securing an SFC licence is only the first step. Operating as a licensed corporation imposes demanding continuous statutory obligations under the SFO, including strict 21-day deadlines for monthly FRR financial returns, continuous professional training (CPT) records, and mandatory notifications of corporate changes.
Failure to submit timely FRR returns, failure to maintain required liquid capital, or late notification of director or shareholder alterations triggers formal SFC investigation, public disciplinary actions, or punitive fines. Retaining specialized compliance counsel ensures uninterrupted peace of mind.
Standard tangible deliverables prepared and submitted for statutory review:
Independent verification of your monthly liquid capital calculations, ranking liabilities, and preparation of Form A-E filings on the SFC WINGS portal.
Preparation of Annual Returns, Annual Declarations, Business & Risk Management Questionnaires (BRMQ), and liaison with statutory external auditors.
Drafting and filing mandatory statutory notifications for appointments/resignations of Directors, ROs, MICs, changes of address, or shareholding restructuring.
Periodic walkthrough of customer due diligence files, sanctions alert clearance, staff CPT training compliance, and preparation for on-site SFC routine inspections.
Structured Roadmap
Reviewing trial balance, reconciling liquid assets against FRR Cap. 571N rules, and lodging monthly returns before the statutory deadline.
Reviewing personal account dealing registers, complaints logs, gift registers, and verifying CPT training hours for licensed representatives.
Analyzing impact of newly published SFC circulars, vetting marketing materials, and reviewing onboarding documents for new funds or clients.
Completing the Business and Risk Management Questionnaire (BRMQ), lodging the annual return, and conducting a full inspection rehearsal.
This advisory module directly supports applications and ongoing governance for:
Under Section 56 of the Financial Resources Rules (Cap. 571N), a licensed corporation must submit its monthly financial return via WINGS within three weeks (21 days) after the end of each calendar month.
Under the SFC Guidelines on Continuous Professional Training, Licensed Representatives (LRs) must complete at least 10 CPT hours per calendar year, while Responsible Officers (ROs) must complete at least 12 CPT hours (including 2 additional hours dedicated to regulatory compliance). At least 5 hours must be directly relevant to the regulated activities for which the individual is licensed, and at least 2 hours must cover ethics or compliance.
Changes in directors or key senior management must be notified to the SFC within 7 business days. Changes in substantial shareholders (10% or more voting rights) require prior SFC written approval under SFO section 132 before any transfer occurs.
The SFC conducts periodic routine inspections to review trade allocation, client money handling, AML screening, and communications logs. Our retained service includes pre-inspection mock reviews and direct representation support.