Securities and Futures Commission

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    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.

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    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.

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    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.

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    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.

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    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.

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    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.

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    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.

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    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.

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    Market Infrastructure

    HK Establishes Task Force on Enhancing Stock Market Liquidity

    By Sanday Chongo Kabange | 30/08/2023

    The task force will review factors affecting stock market liquidity including the stamp duty and make policy recommendations.

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    Crypto / Digital Assets

    HashKey Announces Launch of Retail Crypto Trading Service

    By Editors | 29/08/2023

    HashKey launched trading services for retail crypto investors, allowing them to trading in bitcoin and ether.

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