PCA provides application support to companies who are seeking a license/registration with financial regulators in Hong Kong, Singapore, and the United States of America.
PCA has experience handling licensing applications with the following financial regulators:
License Category Analysis
PCA provides advice to companies on the type of license(s) they require with the applicable regulator in Hong Kong, Singapore, and / or the United States of America.
PCA carefully evaluates the activities each company is seeking to conduct in the respective region and provides detailed advice pertaining to the required regulatory license, along with any applicable licensing exemptions / considerations.
Application Process Advisory
Application Drafting
PCA prepares the full licensing application package for clients, including drafting licensing application forms, compiling regulatory business plans where required (including the drafting of operational workflow diagrams, organization charts, and descriptions of key individuals’ relevant experience), and the preparation of compliance policies and procedures (Compliance Manual, Risk Management Framework, Business Contingency Plan, Outsourcing Guideline, Code of Ethics, Technology Risk Framework, Anti-Money Laundering Policy etc.).
Once the licensing application is ready for submission, PCA proceeds to assist clients with the submission of the licensing application to the regulator.
Regulatory Liaison
Throughout the duration of a licensing application process, PCA acts as the point of contact between the client and the regulator.
On an ongoing basis, PCA liaises with the regulator’s licensing case officer to discuss the clients’ licensing application and where necessary, negotiate on behalf of the client and escalate to ensure continual progress of application.
PCA has excellent relationships with licensing case officers at various regulators in Hong Kong and Singapore which ultimately enables our consultants to speak candidly and openly with these stakeholders in view of ensuring our clients’ applications are processed in a smooth and timely manner.
Requisition Support
During the licensing application process, there are often hundreds of questions posed by the regulator to the license applicant. PCA assists clients to handle these questions by drafting responses for clients to review and subsequently submitting these responses to the regulator on our client’s behalf.
PCA leverages upon its consultants’ years of experience in handling regulatory requisitions to understand the nature of each question as well as the regulators’ expected response.
Vendor Introductions
PCA has a wide network in Hong Kong and Singapore of vendors who provide supporting services to financial institutions, such as accounting firms, auditors, lawyers, company secretaries, banks, visa application specialists, real estate agents, website developers, insurance agents, marketing firms etc.
PCA provides advice to clients with regards to the types of service providers they should consider speaking to and subsequently can provide referrals to competent vendors upon request.
Please feel free to get in touch about your licensing or compliance needs and we would be delighted to be of assistance.
PCA provides application support to companies who are seeking a license/registration with financial regulators in Hong Kong, Singapore, and
the United States of America.
PCA has experience handling licensing applications with the following financial regulators: