Financial Year 2016: Submissions to the SFC

Of interest to: Hong Kong Licenced Firms

A reminder of the annual submissions due to the SFC by Friday 28 April 2017 for firms having their financial year ending December:

1. Account Disclosure Document for Licensed Corporation – prepared by the firm;
2. Audit Questionnaire – prepared by the firm’s auditor;
3. Compliance Report – prepared by the firm’s auditor;
4. Business and Risk Management Questionnaire – prepared by the firm; and
5. Audited Accounts – prepared by the auditor.

In connection with preparation of the audited accounts, the auditor will frequently make recommendations to make certain changes to a firm’s income items, expense items, and balance sheet entries, and such changes will in most cases require corresponding changes made to the firm’s Financial Resources Rules reporting (“FRR”) for December 2016. Further, if your firm is required to submit monthly FRRs, amendments may also need to be made to the FRRs submitted for January – March 2017.

Accordingly, if your auditor recommends restatement of certain items, it is suggested you inquire whether or not these changes will require corresponding amendment(s) to previously submitted FRR(s). If yes, the amended FRR(s) may be submitted via the SFC via the e-Cert as usual, and you must first request the SFC to “accept” amended FRR(s). This request can be made:

  •  on-line on the e-Cert; or
  •  by making a request by telephone to your firm’s case officer, and uploading the amended FRR(s) to the e-Cert web page.