Securities and Futures Commission

Enforcement

SFC Imposes Seven Month Ban on Former Taiping Securities RO

By Editors | 19/09/2023

The former responsible officer logged into clients’ internet trading accounts to place orders for them, and failed to maintain proper records of the order instructions.

Enforcement

SFC Penalises Chee Tak Securities and MIC for Regulatory Breaches

By Editors | 19/09/2023

Chee Tak Securities had no written manuals, policies and procedures on recording order instructions, ongoing monitoring, trade surveillance or employee dealing.

Crypto / Digital Assets

HKMA, SFC Warn of Illegal Offerings by Crypto Firms

By Sanday Chongo Kabange | 18/09/2023

The HKMA warned about crypto firms labelling themselves as banks. The SFC warned about a crypto firm called JPEX which falsely claims to be licensed.

Fintech / Regtech

SFC to Commence Review of Industry Cybersecurity Practices

By Manesh Samtani | 18/09/2023

Commencing this month, the review will entail a survey of licensed corporations as well as meetings and on-site inspections with selected firms.

Enforcement

SFC Revokes Fund Manager Licence, Suspends Manager-In-Charge

By Sanday Chongo Kabange | 12/09/2023

Axial Capital Management failed to maintain its required liquid capital for 19 straight months and to make various filings on time.

Crypto / Digital Assets

Hong Kong SFC Approves City’s First Real Estate STO

By Editors | 11/09/2023

Tykhe Capital Group will launch “Prince Token”, available only to professional investors. Subject to regulatory approval, the token will list on HKbitEX.

Market Infrastructure

HK Clearing Rules Updated to Account for Benchmark Reforms

By Manesh Samtani | 31/08/2023

The clearing obligation will no longer apply to transactions referencing LIBOR and EONIA, which have been discontinued.

Crypto / Digital Assets

SFC Grants In-Principle Approval to Swiss Crypto Bank, SEBA

By Manesh Samtani | 30/08/2023

SEBA plans to offer brokerage, advisory and asset management services in Hong Kong, covering securities, derivatives and crypto products.

Enforcement

SFC, ICAC Acts Against Suspected Market Manipulation Syndicate

By Sanday Chongo Kabange | 30/08/2023

One person was arrested on bribery charges. Brokerage accounts linked to the manipulation scheme were frozen.