Securities and Futures Commission

Securities / Derivatives

HKEX Publishes Testing Guidelines for HKIDR Implementation

By Editors | 04/04/2022

HKEX has published testing guidelines for market participants and intermediaries ahead of the implementation of the new investor identification regime.

Market Infrastructure

HKMA, SFC to Add Calculation Periods to Clearing Rules

By Editors | 03/04/2022

The HKMA and SFC also proposed to add Nomura Financial Products Europe GmbH to the FSP List under the OTC derivatives clearing regime.

Securities / Derivatives

SFC Sets Out Expectations on Complaints Handling Processes

By Editors | 01/04/2022

LCs should set a 7-day timeline for acknowledging receipt of complaints and a 2-month timeline for providing a final response to the complainant.

ESG / Sustainability

Hong Kong to Develop VCM, Unify GBA Carbon Market

By Manesh Samtani | 31/03/2022

Hong Kong’s VCM will target local, Mainland and overseas buyers of carbon credits. Authorities will also work to establish a unified carbon market for the GBA.

Securities / Derivatives

HKMA Updates Trade Reporting Specifications for OTC Derivatives

By Editors | 30/03/2022

A revised Administration and Interface Development Guide will take effect from 19 December 2022, taking into account pandemic-related operational challenges.

Enforcement

SFC Bans BNP Representative for Unauthorised Discretionary Trading

By Editors | 29/03/2022

The relationship manager asked clients to pre-sign blank instruction forms so he could place trades for their accounts without having to inform them in advance.

AML / KYC

SFC Sets Out Expectations on Managing BEC Risk

By Manesh Samtani | 24/03/2022

Most successful business email compromise frauds occurred because LCs did not check or verify the identities of email senders or they ignored red flags.

Market Infrastructure

SFC Seeks to Allow Broker Participation in GBA Wealth Connect

By Sanday Chongo Kabange | 18/03/2022

A hurdle that still needs to be overcome is that Hong Kong brokerages are currently prohibited from distribution and soliciting clients in mainland China.

AML / KYC

SFC Fines Emperor Securities, Emperor Futures for AML Breaches

By Editors | 17/03/2022

Emperor processed third party fund transfers without validating the relationships between the clients and the third parties, or the reason for the transfers.