Licensing routes by regulator and business model

Hong Kong licensing analysis normally starts with the Securities and Futures Ordinance regulated activity map, then moves quickly to responsible officers, Managers-In-Charge, financial resources, premises, outsourcing, and whether the business is actively marketed to the Hong Kong public.

Singapore analysis usually starts with whether the firm conducts a regulated activity under the Securities and Futures Act, then checks whether a CMS licence, exemption, registered fund management route, representative appointment, or financial adviser angle is relevant.

UK authorisation analysis is permission-led: identify the regulated activities, investment types, client types, prudential category, senior manager responsibilities, and whether the applicant can show it is ready, willing, and organised.

US analysis splits quickly between investment adviser registration, state adviser registration, broker-dealer registration, and hybrid models. The same client journey can trigger different SEC, FINRA, state, custody, disclosure, and supervision obligations.

Australia analysis normally starts with whether the firm carries on a financial services business in, into, or from Australia, then checks the AFSL authorisations, financial product scope, retail versus wholesale clients, responsible managers, representatives, and ongoing licensee obligations.