Company: MEGL
Filing Date: 2025-05-09
Form Type: F-1
Source: 0001641172-25-009448
Chunk: 110

Company: Magic Empire Global Ltd
Filing Date: 2025-05-09
Form: F-1
Chunk 110
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 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).

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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 Guidelines for Sponsors and Compliance Advisers (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 sponsor regime are as follows:

| ● | to advise and guide a listing applicant in                                                            
 preparation for a listing;                                                                            |
| ● | to take reasonable due diligence steps in                                                             
 respect of a listing application;                                                                     |
| ● | to take reasonable steps to ensure that true,                                                         
 accurate and complete disclosure about a listing applicant is made to the public;                     |
| ● | to deal with the regulators in a truthful,                                                            
 cooperative and prompt manner;                                                                        |
| ● | to maintain proper books and records that                                                             
 are sufficient to demonstrate its compliance with the Code