Securities and Futures Commission

Structural Regulation

SFC Expands Professional Investor Rules

By JP Reimann | 21/05/2018

SFC’s new professional investor rules will expand categories, amend qualification threshold starting from 13 July 2018.

Liquidity Risk

Growing Liquidity Requirements, a Regulatory Hazard for Asset Managers

By Peter Guy | 21/05/2018

Asset managers resist bank-like capital and liquidity regulations being contemplated by regulators. But new requirements appear unavoidable given recent regulatory trends.

Supervision & Enforcement

SFC Fines Citigroup $7.3mn For IPO Sponsor Failures

By Manesh Samtani | 21/05/2018

The regulator fined Citigroup for due diligence and staff supervision failures relating to IPO work in 2009; no constraints placed on its business activities.

Structural Regulation

Hong Kong Allows Corporate Setup for Investment Funds

By JP Reimann | 18/05/2018

SFC’s new open-ended fund company (OFC) regime will allow investment funds to set up under corporate structures starting from 30 July 2018.

Conduct, Culture & Accountability

Hong Kong SFC Releases Further Details on Licensing Regime

By Garima Chitkara | 17/05/2018

SFC bulletin highlights areas of concern the regulator considers in granting and rejecting licenses as well as updates to MIC regime; SFC also announced a forthcoming thematic review of MIC regime compliance.

Structural Regulation

IOSCO Meets to Discuss Investor Protection, Emerging Risks

By JP Reimann | 15/05/2018

Board to develop support framework to help members address impact of ICOs on investor protection; agree to launch ‘Fintech Network’ to facilitate collaboration on fintech.

Supervision & Enforcement

SFC Signs Enhanced MoU on Cross Border Enforcement Cooperation

By JP Reimann | 13/05/2018

Enhanced IOSCO framework enables securities regulators to obtain and share audit working papers, telephone, internet records; compel attendance at interviews; provide guidance on freezing of assets.

Anti-Money Laundering

Hong Kong-based Regulatory Alliance Eyes Better Fintech Supervision

By Garima Chitkara | 10/05/2018

Asian regulators, former central bankers and government officials establish information exchange alliance to better regulate fintech, digital payments and cryptocurrency developments in the region.

Conduct, Culture & Accountability

SFC Issues New Rules on Instant Message Trade Orders

By JP Reimann | 07/05/2018

Regulator requires two years of full records, client authentication and validation, a written contingency plan and compliance reviews for instant messaging use.