Blackwell Global Hong Kong has announced that it has successfully acquired an asset management license from the Hong Kong Securities and Futures Commission (SFC). The license permits the company to offer a wider range of asset allocation investment options, including stocks, fixed income and mutual funds.
Moreover, the license also expands the company’s reach, allowing it to offer its financial services to clients from around the world, namely Europe, Greater China, Australia and New Zealand. The FX and CFD provider had already received licenses from the SFC in the past, although the asset management license broadens its product reach, and enhances its ability to offer a comprehensive asset package to retail and institutional clients.
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The SFC has been tightening regulations over the past few years, in an effort to protect investors. As a result, the regulator has raised its demands for existing and prospective license holders. Last year, the Hong Kong regulator reached an agreement with the FCA, committing to cooperative efforts to assure investor protection, and to expand each other’s resources to achieve their respective agendas.
Under the SFC license, financial firms are required to adhere to strict capital reserve ratios, as well as to maintain an internal audit system that complies with the SFC’s requirements. Ahead of receiving a license, companies must also be able to verify a successful track record of performance records, which will validate their ability to reliably provide clients with asset management services.
Blackwell Global entered the Hong Kong market in 2015, with the establishment of Blackwell Global Hong Kong. The company has since expanded to several entities, offering clients multi-asset investment solutions. Through a network of subsidiaries, the company is able to obtain various SFC licenses, thereby permitting the offering of a wide array of assets, including stocks, options, futures, precious metals, forex, as well as asset management products.