Shengli Securities Obtains Consent to Manage Investment Portfolio in Virtual Assets

On March 23rd, Shengli Securities (08540. HK) announced that its board of directors would like to inform its shareholders and investors that Shengli Securities Co., Ltd. (Shengli Securities, a wholly-owned subsidiary of the company) has obtained the consent of the Hong Kong Securities and Futures Commission to manage the investment portfolio of virtual assets, However, it is necessary to comply with the SFC’s “Standard Terms and Conditions for Licensed Corporations Applicable to the Management of Investment Portfolios Invested in Virtual Assets”. In view of the rapid development of virtual assets in recent years, the Board believes that providing asset management services related to virtual assets will enable the Group to provide more diversified services to customers, in line with the Group’s strategy, and through the creation of new revenue channels, as well as the acquisition of industry expertise related to virtual assets, Have a positive impact on the future development of the Group.

Victory Securities has been approved by the Hong Kong Securities Regulatory Commission to manage the investment portfolio of virtual assets

Shengli Securities (08540. HK) recently announced that its wholly-owned subsidiary, Shengli Securities Co., Ltd., has received approval from the Hong Kong Securities and Futures Commission to manage investment portfolios in virtual assets. The approval is subject to the company’s adherence to the SFC’s “Standard Terms and Conditions for Licensed Corporations Applicable to the Management of Investment Portfolios Invested in Virtual Assets”. This move is a significant step in the company’s strategy to provide more diversified services to its customers and create new revenue streams while gaining industry expertise in virtual assets.
# Outline
I. Introduction
– Briefly explain what the article is about
II. Background
– Discuss the significance of virtual assets and their growing popularity
– Mention how virtual assets have been regulated in the past
III. Shengli Securities Announcement
– Provide a brief overview of Shengli Securities and its recent announcement
– Explain what the approval means for the company
IV. Compliance with SFC Regulations
– Explain the importance of adhering to the SFC’s “Standard Terms and Conditions for Licensed Corporations Applicable to the Management of Investment Portfolios Invested in Virtual Assets”
– Discuss the potential consequences of non-compliance
V. Strategic Implications
– Discuss the benefits of offering asset management services to customers related to virtual assets
– Explain how this move fits into Shengli Securities’ overall strategy
– Mention the potential impact on the company’s future development
VI. Conclusion
– Summarize the key points
– Provide a final thought on the significance of the announcement
# Shengli Securities Obtains Consent to Manage Investment Portfolio in Virtual Assets
In recent years, virtual assets such as cryptocurrencies have become increasingly popular as a means of investment. The rise in popularity has brought about the need for regulation, and various countries have implemented measures to regulate these assets. On March 23rd, Shengli Securities announced that its wholly-owned subsidiary, Shengli Securities Co., Ltd., had obtained approval from the Hong Kong Securities and Futures Commission to manage investment portfolios in virtual assets.
The SFC’s “Standard Terms and Conditions for Licensed Corporations Applicable to the Management of Investment Portfolios Invested in Virtual Assets” require an investment corporation to comply with strict regulations when managing investment portfolios invested in virtual assets. The completed application must include detailed information regarding the virtual assets to be managed in the portfolio, including the risk management plan and the key systems and controls that the corporation will implement to ensure compliance with the standard.
The strategic implications of Shengli Securities’ move to offer asset management services related to virtual assets are significant. In addition to providing more diversified services to customers, the creation of new revenue channels and the acquisition of industry expertise will have a positive impact on future development.
Compliance with the regulations set forth by the SFC is crucial. Failure to comply with these regulations could result in serious consequences, including disciplinary actions or even revocation of the license. However, the potential rewards from venturing into virtual asset investment management appear to outweigh the associated risks.
In conclusion, Shengli Securities’ consent to manage investment portfolios in virtual assets is a significant move that aligns with the company’s overall strategy. By branching out into virtual asset investment management, the company seeks to provide more diversified services to customers and gain industry expertise while creating new revenue channels.
# FAQs

#What are virtual assets?

Virtual assets are digital representations of value that can be traded on various online platforms. Examples include cryptocurrencies and virtual tokens.

#Why have virtual assets become so popular?

Virtual assets have become popular with investors due to their decentralized nature, which allows for greater control and privacy. Additionally, the potential for significant returns has made virtual assets an attractive investment opportunity.

#What are the potential risks associated with investing in virtual assets?

Investing in virtual assets can be risky due to their volatility and lack of regulation. Additionally, the market can be subject to hacking and cyber-attacks, which can result in loss of funds.