Investment websites warned on licensing

Hong Kong''s SFC has warned financial website operators that if they offer investment advice, even indirectly, they should check licensing requirements, or risk breaking the law.

Websites offering investment advice need to be aware they may be breaking the law, warns the Hong Kong Securities and Futures Commission SFC in a circular on the provision of financial information on the internet released this week.

Even sites that just provide a link to another site offering advice may need to seek legal advice as to whether such an action constitutes dealing in securities, which is subject to regulation.

The commission notes that an increasing number of websites are engaged in the provision of financial information or investment advice, and it is concerned that some of the websites may be operating unlawfully.

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