Securities & Futures Commission of Hong Kong

Competence requirements

Local regulatory framework papers

The SFC does not conduct examinations for the local regulatory framework papers. To enroll in the examinations, please contact:

Exemptions from examinations

In general, if you have a degree in Accounting, Business Administration, Economics, Finance or Law; or passed any two of these courses when completing another degree, you would be exempted from the industry qualification paper. However, you may still be required to take the local regulatory framework paper (Paper 1). 

  • For details on an exemption from the local regulatory framework papers, please see Appendix E of Guidelines on Competence. 
  • If you have a professional qualification in law, accounting or finance (including CFA or CPA), please see Appendix D of Guidelines on Competence to see if you qualify for an exemption. However, you may still be required to take the local regulatory framework paper (Paper 1).

    For the differences between industry qualification papers and local regulatory framework papers for different regulated activities, please refer to The List of Recognized Industry Qualifications and Local Regulatory Framework Papers.

     
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