Hong Kong Regulations

SECURITIES AND FUTURES (LICENSING AND REGISTRATION) (INFORMATION) RULES - SECT 4

Changes to be notified by intermediaries, licensed representatives and substantial shareholders

(1) This section applies in relation to the information specified in Schedule
3 that has been provided to the Commission under any provision of Part V of
the Ordinance.

(2) Where there is a change in the information referred to in subsection (1),
a notice in writing of the change containing a full description of it shall,
within 7 business days after the change takes place, be given to the following
person or persons-

   (a)  (where the information has been provided in connection with an
        application under any provision of Part V of the Ordinance and the
        Commission is still considering the application) the Commission; or

   (b)  (in other cases) the Commission and (if the information provided
        relates to a registered institution) the Monetary Authority.

(3) A licensed corporation shall give a notice in writing under subsection (2)
if a change occurs in relation to any of the information specified in Part 1
of Schedule 3.

(4) A registered institution shall give a notice in writing under subsection
(2) if a change occurs in relation to any of the information specified in Part
2 of Schedule 3.

(5) A licensed representative shall give a notice in writing under subsection
(2) if a change occurs in relation to any of the information specified in Part
3 of Schedule 3.

(6) A substantial shareholder shall give a notice in writing under subsection
(2) if a change occurs in relation to any of the information specified in Part
4 of Schedule 3.

(7) Subsections (2), (3), (4), (5) and (6) also apply to-

   (a)  a corporation that has applied for a licence under section 116 or 117
        of the Ordinance;

   (b)  an authorized financial institution that has applied for registration
        as a registered institution under section 119 of the Ordinance;

   (c)  an individual who has applied for a licence under section 120 or 121
        of the Ordinance; or

   (d)  a person who has applied for approval under section 132 of the
        Ordinance to become or continue to be (as the case may be) a
        substantial shareholder of a corporation licensed under section 116 of
        the Ordinance, as the case may be, before the application is withdrawn
        or granted or otherwise finally disposed of, with the modifications
        made under subsection (8).

(8) In subsections (3), (4), (5) and (6) and Schedule 3, a reference to-

   (a)  a licensed corporation;

   (b)  a registered institution;

   (c)  a licensed representative; and

   (d)  a substantial shareholder, shall be construed as including a reference
        respectively to-

   (e)  the intended licensed corporation under subsection (7)(a);

   (f)  the intended registered institution under subsection (7)(b);

   (g)  the intended licensed representative under subsection (7)(c); and

   (h)  the intended substantial shareholder under subsection (7)(d).

(9) Nothing in item 7 of Part 1 of Schedule 3, item 7 of Part 2 of Schedule 3,
item 5 of Part 3 of Schedule 3, or item 2 of Part 4 of Schedule 3 shall
require disclosure of information concerning an ongoing criminal investigation
by a regulatory body or criminal investigatory body if such disclosure is
prohibited by any statutory provision in Hong Kong or elsewhere, but the
applicant shall notify the Commission of the results of the investigation
within 7 business days after he becomes aware of the completion of the
investigation.