Company: MEGL
Filing Date: 2025-05-09
Form Type: F-1
Source: 0001641172-25-009448
Chunk: 108

Company: Magic Empire Global Ltd
Filing Date: 2025-05-09
Form: F-1
Chunk 108
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 And Registration Under The SFO Administered By The SFC

The SFC is an independent statutory body set up in 1989 to regulate Hong Kong’s securities and futures markets. It operates independently of the Government of Hong Kong, and is funded mainly by transaction levies and licensing fees.

The SFC derives its investigative, remedial and disciplinary powers from the SFO and the subsidiary legislations thereunder. The SFO, in particular, vested the SFC with multiple roles and sets out its regulatory objectives, including:

| (i)   | to maintain and promote the fairness, efficiency,                                                                                        
 competitiveness, transparency and orderliness of the securities and futures industry;                                                    |
| (ii)  | to promote understanding by the public of                                                                                                
 financial services including the operation and functioning of the securities and futures industry;                                       |
| (iii) | to provide protection for members of the public                                                                                          
 investing in or holding financial products;                                                                                              |
| (iv)  | to minimize crime and misconduct in the securities                                                                                       
 and futures industry;                                                                                                                    |
| (v)   | to reduce systemic risks in the securities                                                                                               
 and futures industry; and                                                                                                                |
| (vi)  | to assist the Financial Secretary of Hong                                                                                                
 Kong in maintaining the financial stability of Hong Kong by taking appropriate steps in relation to the securities and futures industry. |

The SFC is one of the four financial regulators in Hong Kong charged with oversight of finance and investing, but it is the only Hong Kong financial regulator that is given the mandate to educate the investing public.

Following the enactment of the Securities and Futures (Amendment) Ordinance 2012, the Investor Education Centre (now known as the Investor and Financial Education Council) was formed as a SFC subsidiary to educate the public on a broad range of retail financial products and services.

Licensing regime under the SFO

Under the SFO, any person who carries on a business in a regulated activity or holds itself out as carrying on a business in a regulated activity must be licensed under the relevant provisions of the SFO to carry on that regulated activity, unless any exemption under the SFO applies. This applies to a corporation carrying on a business in a regulated activity and to any individuals acting on behalf of that corporation in carrying on such activities, as further described below. It is an offense for a person to conduct any regulated activity without the appropriate license issued by the SFC.

Further, if a person (whether by itself or another person on his behalf, and