Chapter 3 of 815% of exam
The Securities and Futures Ordinance (SFO)
The SFO (Cap. 571) is the single statute that consolidates Hong Kong's securities and futures law. Paper 1 expects familiarity with its structure and the parts that carry the heaviest exam weight: licensing, market misconduct and disclosure of interests.
Structure and key provisions
The SFO is organised in numbered Parts. Part II constitutes the SFC. Part V covers licensing and registration. Part XIII creates the civil Market Misconduct Tribunal regime, and Part XIV the parallel criminal offences. Part XIVA requires listed corporations to disclose inside information. Part XV imposes disclosure-of-interests duties on substantial shareholders and directors.