The Hong Kong Securities and Futures Commission requires licensed corporations to fully cooperate with inspections and clarify their statutory regulatory responsibilities.

The Hong Kong Securities and Futures Commission (SFC) has criticized some licensed corporations for obstructing its supervision work during inspections, including attempting to delay or refuse inspections, deliberately providing incomplete responses, withholding information, or submitting illegal, false, or forged documents. The SFC has sent letters to licensed corporations reminding them to fully cooperate with the SFC and comply with their statutory obligations. All licensed corporations have a responsibility to accept inspections by the SFC, be prepared for them, and respond promptly to the SFC's requests for information. The SFC stated that if anyone attempts to obstruct inspections, including attempting to prevent the SFC from determining whether a licensed corporation is complying with regulations, it will decisively exercise its powers to take appropriate regulatory actions, including imposing conditions on the licenses of licensed corporations in reasonable circumstances, or imposing restrictions on the business and activities of licensed corporations in appropriate circumstances, such as prohibiting certain transactions, suspending business relationships with new clients, or restricting asset handling; and may even refer matters of concern to other relevant regulatory authorities in Hong Kong, mainland China, and overseas for joint regulatory action. The SFC stated that it will require the core function heads responsible for overall management and supervision oversight in licensed corporations, under the assistance of the core function heads responsible for compliance functions, to fulfill rigorous supervisory and active leadership responsibilities throughout the entire inspection process to ensure that licensed corporations fully cooperate and comply with relevant regulations. The core function heads responsible for overall management and supervision oversight and any individuals attempting to obstruct the inspection will be held accountable and may face regulatory action. The SFC reminded that if a licensed corporation needs additional time to collect information and respond to inspection queries in special circumstances, they should promptly notify the SFC, clearly explain the reasons, and submit a new proposed timetable for approval.