Charlie Chang has just used Sincere Securities to purchase shares in Bigco. Charlie is introduced to GearCorp, which can offer Charlie finance for the continued holding of the shares. Which ONE of the following would be appropriate for GearCorp’s licensing status?
A
No license is required as the shares have already been purchased
B
GearCorp can provide financing to Charlie if it holds a Type 9 (Asset Management) license
C
If GearCorp is an authorised financial institution, and Charlie is already a customer, no Type 8 (Securities Margin Financing) license is required
D
Finance can be provided if GearCorp holds a Type 4 (Advising on Securities) license
Under Hong Kong Futures Exchange rules, a Merchant Trader:
A
is the same as a Futures Commission Merchant
B
may act as an agent of an Exchange Participant
C
is not allowed to trade futures contracts
D
is entitled to trade in futures contracts and/or options contracts only on its own account, and only ancillary to its principal business or that of its holding company