Licence requirements

Licensing maps by activity and jurisdiction

Start with what the business actually does, then compare how Hong Kong, Singapore, the UK, the US, and Australia treat the activity.

Asset management

Asset and fund management licensing requirements

Discretionary portfolio, fund, managed account, and investment management models where the firm makes or controls investment decisions.

Investment advice

Personal, firm, platform, or research-led models that recommend securities, funds, portfolios, or other financial products.

Brokerage/dealing

Execution, arranging, introducing, order-routing, placement, brokerage, dealing, or transaction-compensation models.

Fund marketing

Fund offers, financial promotions, private placement activity, distribution, investor introductions, and marketing material approval flows.

Trading platforms

Marketplaces, execution tools, automated trading features, trading venues, ATS-style models, and platform order flows.

Custody/client assets

Safekeeping, client money, custody control, qualified custodian, safeguarding, asset segregation, and client asset operational models.

Family office

Single-family, multi-family, investment office, trust, adviser, and externally marketed family office arrangements.

Research

Securities research, model portfolios, newsletters, platform commentary, ratings, and recommendation-like analysis.

Capital raising

Placements, corporate finance advice, sponsor work, fund raising, M&A-adjacent securities activity, and finder or placement-agent models.