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On 28 April 2009, the SFC released a circular setting out that under the SFO a corporation which is either a participant of the Stock Exchange of Hong Kong Limited and is licensed for Type 1 regulated activities (dealing in securities) (Category One), or is a participant of the Hong Kong Futures Exchange Limited and licensed for Type 2 regulated activities (dealing in futures contracts) (Category Two), is required to take out and maintain insurance against specific risks for a specified amount, following the SFC’s approval of a master policy of insurance applicable to the relevant corporation
