Securities and Futures Commission

Crypto / Digital Assets

SFC Grants First In-Principle Approval to STO Platform

By Editors | 19/03/2023

The approval was granted to Signum Digital Limited, a joint venture between Coinstreet Holdings and Somerley Capital Holdings.

Enforcement

SFC, ICAC Arrest Five More Ramp-and-Dump Syndicate Members

By Editors | 16/03/2023

The arrestees include qualified accountants and senior executives of a number of Hong Kong-listed companies, the SFC and ICAC said.

Enforcement

SFC Fines Brokerage for 2015 System Testing Incident

By Editors | 14/03/2023

I-Access Investors incorrectly used data from system testing as production data and inadvertently triggered 27 stop loss sell orders by 12 clients.

Market Infrastructure

HK to Amend Clearing Rules to Account for IBOR Reforms

By Editors | 13/03/2023

Mandatory clearing will be required for certain OTC transactions referencing ARRs rather than for those referencing IBORs that are being discontinued.

Securities / Derivatives

SFC Fines City International Futures for AML Compliance Failures

By Editors | 10/03/2023

City International Futures is the 6th firm to be fined over the use of software that allows Mainland investors to trade without opening a local securities account in Hong Kong.

Enforcement

SFC Bans Former Senior Manager of Citigroup Asia Unit for Misconduct

By Editors | 07/03/2023

Philip Shaw’s misconduct was “intentional, dishonest and contrary to a licensed person’s overarching duty to act in clients’ best interests,” the SFC said.

Enforcement

SFC Bans Ex-Convoy Licensee Over Stock Manipulation Scheme

By Editors | 05/03/2023

A Convoy Asset Management consultant was banned for life for his role in a stock manipulation scheme and for lying to the SFC.

AML / KYC

SFC Calls on Investors to Provide Consent for HKIDR Regime

By Editors | 03/03/2023

After the launch of HKIDR on 20 March, investors who haven’t provided consent will not be able to buy securities on the stock exchange.

Hong Kong Appoints Ex-Regulators to HKEX Board

By Editors | 02/03/2023

Former HKMA chief Joseph Yam and ex-SFC chairman Carlson Tong have been appointed as board directors for HKEX.