HKSI Paper 1 Study Notes
Nine chapters distilled from the 10min HKSI1 app and aligned to the Paper 1 v3.5 syllabus. Each chapter separates legal status, regulatory roles, numerical thresholds and practical traps.
Regulatory foundation
Chapters 1–4: institutions, legal framework, the SFO, licensing and subsidiary legislation.
Paper 1 · Topic 1
Regulatory Overview of Hong Kong's Financial Industry
From the post-1987 regulatory reforms to the division of responsibilities among the SFC, HKMA, HKEX and market participants. The goal is to identify statutory powers, market operators and frontline regulators.
1 sections
Paper 1 · Topic 2
Hong Kong Law and the Companies Ordinance
Covers common law, equity, civil and criminal law, contract and agency, separate corporate personality, share capital, directors' duties, shareholder resolutions and winding up.
1 sections
Paper 1 · Topic 3
The Securities and Futures Ordinance
Follows the key operative Parts of the SFO: SFC powers, offers of investments, OFCs, licensing, investigations, discipline, investor compensation, market misconduct and disclosure of interests.
1 sections
Paper 1 · Topic 4
Licensing, Registration and Subsidiary Legislation
One of Paper 1's densest chapters: Types 1 to 13, licensed corporations and registered institutions, representatives and responsible officers, fitness and properness, financial resources, client assets, records, contract notes and audit.
1 sections
Applied regulation
Chapters 5–9: conduct, controls, markets, public capital and market misconduct.
Paper 1 · Topic 5
Business Conduct and Client Relations
Moves from the Code of Conduct's general principles into suitability, client agreements, professional investors, derivatives and conflicts, then compares specialist codes.
1 sections
Paper 1 · Topic 6
Business Operations and Practices
Covers management and internal controls, risk-based AML/CFT, suspicious transactions, electronic trading and ALPs, personal data, compliance governance and insurance.
1 sections
Paper 1 · Topic 7
Participating in the Hong Kong Exchanges
Covers HKEX exchanges, clearing houses and systems, securities and futures trading, CCASS settlement, short selling, stock borrowing, market making, position limits and Stock Connect.
1 sections
Paper 1 · Topic 8
Accessing Public Capital
Covers Listing Rules, sponsors and capital-market intermediaries, share schemes, debt and derivative warrants, takeovers, SFC-authorised products, alternative fundraising and virtual-asset regulation.
1 sections
Paper 1 · Topic 9
Market Misconduct and Improper Trading Practices
Covers the civil/criminal dual track, MMT orders, private rights of action, insider dealing, price manipulation, false trading, unsolicited calls and common improper trading practices.
1 sections
Practise with 2,195 original Paper 1 questions
These notes are distilled from the 10min HKSI1 app. Use them alongside bilingual questions, reasoned explanations, chapter practice and error review.
