Baker McKenzie has successfully advised Edelweiss Securities (Hong Kong) Private Limited ("Edelweiss Securities"), a subsidiary company of the Edelweiss Group, on obtaining a securities and futures dealing and advisory license from the Securities and Futures Commission (SFC). This successful application makes Edelweiss Securities amongst few Indian brokerage houses that is able to offer full Indian securities and futures brokerage and research services to professional investors in Hong Kong. SFC awarded the license to Edelweiss Securities in April 2020.
The Edelweiss Group is one of India's leading diversified financial services conglomerate providing a broad range of financial products and services to a substantial and diversified client base that includes corporations, institutions and individuals. Edelweiss's products and services span multiple asset classes and consumer segments across domestic and global geographies.
Karen Man, partner and global head of the Financial Services Regulatory Practice, led the Baker McKenzie team in advising Edelweiss Securities regarding its license application, structuring and regulatory compliance in relation to the setting up of its new securities and futures brokerage operations in Hong Kong.
"It has been a privilege to represent Edelweiss Securities on this significant matter and to play a role in its growth story," said Karen Man. "We could not have been more pleased to have been able to bring our regulatory compliance expertise to the table and assist our client in successfully obtaining the Type 1, 2, 4 and 5 licenses, as well as structure its unique operations so that it meets the regulatory requirements and expectations of both the Hong Kong and India regulators," Karen added.
“The Baker McKenzie team, led by Karen Man, worked very closely with Edelweiss, understanding our business needs and working across myriad of international law and regulatory requirements. Some ingenious solutioning, along with persistent focus of the team, helped Edelweiss be one of the few India brokerage houses to have a comprehensive securities license in Hong Kong," said Atul Bapna and Ashish Pithawala from the Edelweiss team.