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The Securities and Futures Commission (SFC) announced today that, after receiving comments on its consultation to amend the Securities and Futures (Financial Resources) Rules (FFR), it will be implementing a series of changes.
According to the statement, the changes are necessary so that the regulation can “catch up” to the latest market developments. Specifically, the amendments aim to update the computation basis of the financial resources requirements. This is in response to market developments. In addition, they will facilitate the business operation of licensed corporations.
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The key changes to the rules include ... (read more)