Company: MEGL
Filing Date: 2025-04-14
Form Type: 20-F
Source: 0001641172-25-004566
Chunk: 55

Company: Magic Empire Global Ltd
Filing Date: 2025-04-14
Form: 20-F
Item: Item 4
Chunk 55
---
 conflict of interest for he/she to carry on the regulated activities concurrently.

An
“executive director” of a licensed corporation is defined as a director of the corporation who (a) actively participates
in or (b) is responsible for directly supervising, the business of a regulated activity or activities for which the corporation is licensed.
Every executive director of the licensed corporation who is an individual must apply to the SFC to be approved as a Responsible Officer
of such licensed corporation in relation to the regulated activities.

Sponsors
and compliance advisers

A
sponsor is a licensed corporation or registered institution licensed or registered under the SFO for Type 6 (advising on corporate finance)
regulated activity and permitted under its license or certificate of registration to undertake work as a sponsor in respect of an application
for the listing of any securities on a recognized stock market under the GEM Listing Rules or the Listing Rules (as the case may be).

  35  

A
compliance adviser is a licensed corporation or registered institution licensed or registered under the SFO for Type 6 (advising on corporate
finance) regulated activity, and permitted under its license or certificate of registration to undertake work as a sponsor to act as
a compliance adviser under the GEM Listing Rules or the Listing Rules (as the case may be). The main role of a compliance adviser is
to ensure that the listed company is properly guided and advised as to compliance with the GEM Listing Rules or the Listing Rules (as
the case may be) and all other applicable rules, laws, codes and guidelines. Only firms eligible to act as sponsors are eligible to act
as compliance advisers.

Under
the sponsor regime established in January 2007, in order to act as a sponsor, apart from holding a Type 6 (advising on corporate finance)
license, an application for sponsor license should be submitted to the SFC to demonstrate that it can meet the eligibility criteria pursuant
to the Sponsor Guidelines. In considering the sponsor license application, the SFC will take into account the competency of the firm
to act as a sponsor, based on the criteria set out in the Sponsor Guidelines, and will also consider more generally the firm’s
fitness and properness as a corporate finance advisory firm under the Fit and Proper Guidelines.

Effective
from October 1, 2013, the enhanced regulations on IPO sponsors and the key obligations of IPO sponsors have been consolidated in paragraph
17 of the Code of Conduct. The key requirements for a sponsor under the new