Company: MEGL
Filing Date: 2025-04-14
Form Type: 20-F
Source: 0001641172-25-004566
Chunk: 60

Company: Magic Empire Global Ltd
Filing Date: 2025-04-14
Form: 20-F
Item: Item 4
Chunk 60
---
Variation
of regulated activity specified in license or certificate of registration

Under
section 127(1) of the SFO, a licensed corporation may apply in the prescribed manner and payment of the prescribed fee to the SFC to
vary the regulated activity specified in its license or certificate of registration. Prior approval would also need to be obtained from
the SFC in cases such as addition or reduction of regulated activity, modification or waiver of licensing conditions and change of financial
year end.

Modification
or waiver of licensing requirements

Under
the licensing requirements, a licensed corporation may apply in the prescribed manner and payment of the prescribed fee to the SFC for
modification or waiver of the conditions imposed or certain other requirements specified in section 134 of the SFO.

Supervision
by the SFC

The
SFC supervises licensed corporations and intermediaries operating in the market. The SFC conducts on-site inspections and off-site monitoring
to ascertain and supervise intermediaries’ business conduct and compliance with relevant regulatory requirements, as well as to
assess and monitor the financial soundness of intermediaries.

  39  

Disciplinary
power of the SFC

Under
Part IX of the SFO, subject to the due process for exercising disciplinary powers laid down in section 198 of the SFO, the SFC may exercise
any of the following disciplinary actions against a regulated person (including a licensed person or a registered institution) if that
person is found to be guilty of misconduct or not fit and proper to be or remain the same type of regulated person (sections 194 and
196 of the SFO):

  revocation                                                                                                                             
  revocation                                                                                                                             
  public                                                                                                                                 
  prohibition                                                                                                                            
  prohibition                                                                                                                            
  pecuniary                                                                                                                              

C.
Organizational structure.

The
following diagram sets forth our corporate structure as of the date of this Annual Report:

  Name      Background                                                                                      Ownership      
  GFHL      -                                                                                               100%           
            A Hong Kong company                                                                             owned by MEGL  
                                                                                                                           
            -                                                                                                              
            Incorporated on June 24, 2016                                                                                  
                                                                                                                           
            -                                                                                                              
            An intermediate holding company                                                                                
                                                                                                                           
            -                                                                                                              
            Issued Share Capital of HK$10,000                                                                              
  GIL       -                                                                                               100%           
            A Hong Kong company                                                                             owned by GFHL  
                                                                                                                           
            -                                                                                                              
            Incorporated on September 22,