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Exemption for persons exempt under Second Schedule to Securities and Futures (Licensing and Conduct of Business) Regulations

Financial Advisers Regulations

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—(1) A corporation which is exempt from holding a capital markets services licence under paragraph 3(1)(d) of the Second Schedule to the Securities and Futures (Licensing and Conduct of Business) Regulations is exempt under section 20(1)(g) of the Act from holding a financial adviser’s licence in respect of the following:(a)advising others, either directly or through publications or writings, and whether in electronic, print or other form, concerning futures contracts;(b)issuing or promulgating research analyses or research reports, whether in electronic, print or other form, concerning futures contracts.(2) A corporation which is exempt from holding a capital markets services licence under paragraph 3A(1)(d) of the Second Schedule to the Securities and Futures (Licensing and Conduct of Business) Regulations is exempt under section 20(1)(g) of the Act from holding a financial adviser’s licence in respect of the following:(a)advising others, either directly or through publications or writings, and whether in electronic, print or other form, concerning OTC derivatives contracts;(b)issuing or promulgating research analyses or research reports, whether in electronic, print or other form, concerning OTC derivatives contracts.

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