HK Finance and Legal Professional Training Institute
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We (HKFLI), derived from the Axis Legal and Compliance Services Co. Ltd, are a professional union of practicing lawyers, accountants, licensed and senior participants in securities/insurance/banking industries. We have been working closely with regulators and stakeholders to promote the professional standards for the legal and financial service sectors since 2013.
Our professional members always believe that the ONLY way to keep HK’s financial and legal sectors prosperous is to train young talents and attract them entering the sectors. HKFLI aspire to assist young talents, including undergraduates, to enter and grow in HK legal and financial industries. We provide preparation courses for licensing qualification exams of various financial sectors, and also a range of oriental courses/seminars for new joiners in different financial sectors to equip them with necessary industrial, compliance and legal knowledge they need to master in the course of their development as financial service experts in Hong Kong.
By arranging seminars, events, luncheons and forums, HKFLI endeavour to build a strong network and community among professionals across HK’s legal and financial sectors, running a platform that allow potential joiners, young talents and experienced participants to grow and advance together.
In response to the ever-changing regulatory landscape in HK’s legal and financial sectors, HKFLI continues to work on raising the compliance awareness of current participants and new joiners, focusing on holding regular events/forums/workshops and providing efficient CPD activities to share real operational experience, actual complaint and court cases. Participants will therefore learn from the sharing and know how to avoid pitfalls when performing daily tasks.
The structure of HKFLI is designed to guarantee a self-contained quality assurance mechanism in place.
HKFLI’s developers, organizers, trainers and speakers are specialized practitioners who command at least 10 years of experience in areas of legal services, banking, securities, insurance and other financial services. Their activities and courses, however, are reviewed, commented and governed by our Quality Assurance Committee regularly.
Feedbacks from participants are collected and directly followed up by our Quality Assurance Committee, who will then report to the Board for future enhancement and rectification, if necessary.
To fulfill our value, provision of efficient CPD/CPT is the key.
In addition to “traditional” face-to-face classroom training or webinar,
we provide accredited online CPD/CPT courses, attendants enjoy the
following convenience:
All HKFLI’s CPD courses for solicitors, insurance and securities intermediaries, and participants of MSO and money lenders are accredited by respective governing bodies and/or designed by respective Guidelines:
We provide CPD accredited by the Law Society of Hong Kong. Solicitors and trainee solicitors are required to accumulate 15 CPD accreditation points in each practice year (1st November to 31st October).
HKFLI’s e-CPD platform allowing solicitors to complete the courses according to individual study needs and time schedule. We are confident that you’ll find the right solution from our carefully tailored selection of accredited programs. Our course are under constant update by our experienced modulators, covering the latest developments in legal sector.
Under the Insurance Authority’s GL24: Guideline on Continuing Professional Development for Licensed Insurance Intermediaries, a licensed insurance intermediary is required to attend at least 15 CPD hours for each Assessment Period (1st August to 31st July), including a minimum of 3 compulsory CPD hours on “Ethics or Regulations” courses.
IA wishes to facilitate the achievement of CPD, licensees are allowed to earn all CPD hours through accredited e-learning activities, as HKFLI being one of the accredited providers.
Topics of our accredited CPD activities include:
• Popular insurance products comparison, real case and complaint sharing
• Regulatory aspects of insurance practice in Hong Kong
• Ethics and Regulations, including AML, client privacy protection and avoiding the pitfall of corruption
To fulfill our value of maintaining compliance and providing efficient CPT, participants in HK securities industry can fulfill SFC’s CPT requirements with great flexibility. HKFLI’s e-learning platform allow participants to earn CPT hours in front of PC or mobile devices, saving the time and energy to travel between working places, homes and classrooms.
HKFLI also develops the preparation courses for the licensing examinations held by the Hong Kong Securities and Investment Institute (HKSI). Undergraduates, potential participants who aspire to develop their careers in HK securities industry have to pass respective licensing examinations, the type of exams depending on the regulated activities they want to take part in as a licensed representative.
Since January 2022, the SFC enhances CPT requirement in order to ensure licensed representatives and responsible officers (ROs) to remain fit and proper in the fast changing and highly competitive financial market. An individual licensed representative shall take at least 10 CPT hours per calendar year. For ROs, a minimum 12 CPT hours are needed.
To ease the time costs and burden of fulfilling the enhanced CPT requirement, HKFLI makes numerous e-learning CPT courses available, participants can attend the courses anywhere and anytime. They can earn CPT hours accordingly to personal schedule, CPT activities no longer a barrier to daily work or holiday entertainment.
Topics of HKFLI CPT courses cover regulatory/compliance issues in relation to daily works of general licensed intermediaries and Responsible Officers, including but not limited to:
Those who wish to join a bank or a securities firm to engage in Type I regulated activity (dealing in securities) are required to sit for the Securities and Futures Practitioners Qualifying Examination (Volume 1, 7 and 8) organised by the Hong Kong Securities and Investment Institute (HKSI). LE). For the past year, HKSI has published an official pass rate of 55 – 67%. Among them, the average pass rate for Volume 1 in 2021 is only about 51%.
For this reason, we have specially designed “electronic format” preparation courses for candidates who are not familiar with securities activities. The course is written by compliance, operations and management personnel in the industry to achieve the following course objectives:
Our Paper 1, Paper 7 and Paper 8 courses correspond to 200 to 300-question mock exams, and are constantly updated to keep up with the latest question trends, with additional explanations and test-taking strategies attached to the signatures. The mock exams cover the HKSI exam content repeatedly and include the following different types of questions:
Candidates are expected to spend approximately 40 hours to complete their studies.
e-Learning provides an alternative learning mode which gives you greater flexibility to learn whenever and wherever is convenient for you and at your own pace.
HKFLI provides a wide range of CPD courses, topics include offer a full spectrum of course and events that help practitioners perform effectively in this rapidly evolving securities and investment market. The popular topics include regulatory issues of the Securities and Futures Ordinance, Anti-Money Laundering, Hedge Fund Investments and Bonds and Fixed Income.
Competence Assessment Course and Mock Exam The Customs and Excise Department (“C&ED”), the regulator of MSOs in Hong Kong, requests directors of MSOs or new licence applicants to pass the “Competence Assessment” before they are allowed to further process MSO licence renewal or new licence application. The Assessment is composed of seven (7) modules. Each module consists of five (5) multiple-choice questions, which means 35 questions as a whole.
We have developed a preparation course together with mock exam up to 300 questions, so that attendants are equipped with sufficient knowledge to tackle the Assessment. The Assessment covers not only the required syllabus, but also include audio explanation talking about examination skill that may be useful when encountering relevant questions during the Assessment.
After completing a mock exam question, attendants will be given supplementary explanation to the answer, giving attendants additional confidence to face the Assessment.
Customs and Excise Department (CED) is of the view that ongoing staff training is an important element of an effective system to prevent and detect ML/TF activities. It is an MSO’s responsibility to provide adequate training for its staff so that they are adequately trained to implement its AML/CFT Systems.
In line with the CED’s expectations, HKFLI provides e-training programs to cover the required training topics that a MSO staff is expected to receive on regular basis, including:
