According to Foresight News, FTFT Limited (FTFT.US) has announced that its wholly-owned Hong Kong subsidiary, FTFT International Securities and Futures Limited, has signed an agreement with a renowned compliance consultant in Hong Kong. The agreement involves applying for a Virtual Asset Service Provider (VASP) license from the Hong Kong Securities and Futures Commission (SFC), in addition to the existing Type 1, 2, and 4 licenses held by the company. The subsidiary also plans to apply for a Type 9 asset management license, aiming to cover both traditional and virtual asset management services.
The compliance consultant will conduct a thorough review and assessment of the company's business model and risk management capabilities. They will also assist in preparing the necessary application materials and business plans for submission to the Hong Kong SFC.
