Securities and Futures Commission

HKMA Seeks to Reassure Bankers Over Covid Restrictions

By Editors | 07/03/2022

Concerns are mounting over closed schools and bars, banned flights, and a plan to launch a mass testing programme that may be coupled with a citywide lockdown.

Securities / Derivatives

SFC Directs Licensed Corporations to Plan for Contingencies

By Editors | 07/03/2022

The SFC expresses concern that some licensed firms may not have plans in place to deal with financial distress or the sudden unavailability of key staff.

Enforcement

SFC, HKEX Fine HSBC Securities for Regulatory Breaches

By Editors | 04/03/2022

The firm made errors when assigning BCANs to clients. It also oversold China securities due to deficiencies in its order management and algorithmic trading systems.

Enforcement

SFC Permanently Bans Ex-HSBC Employee Over Bribery Convictions

By Editors | 02/03/2022

The former vice president accepted gifts as inducements to handle credit applications and maintain the credit facilities for two companies controlled by a client.

Securities / Derivatives

SFC, HKMA Launch Joint Review of Investment Product Selling Practices

By Editors | 02/03/2022

The review’s objectives are to assess intermediaries’ compliance with requirements to perform product due diligence, conduct suitability assessments and provide information to clients.

Enforcement

HK Court Offers Questionable Rationale in Insider Dealing Case

By Tom Fyfe | 01/03/2022

The court’s decision merely transfers illicit profits to a select group of individuals who were “lucky enough to have traded with the insider”, says Tom Fyfe.

AML / KYC

The SFC Approach to Virtual Assets Prioritises Investor Protection

By Manesh Samtani | 28/02/2022

Since 2018, the steps taken by the SFC to regulate the virtual asset space have prioritised investor protection, first and foremost.

Market Infrastructure

HK Budget Includes More Borrower Relief, Capital Market Reforms

By Manesh Samtani | 23/02/2022

Finance Secretary Paul Chan announced measures to further reform Hong Kong’s listing rules, promote the bond market, and introduce yuan share trading in the city.

Securities / Derivatives

SFC Confirms Plans to Regulate Fund Trustees, Custodians

By Manesh Samtani | 23/02/2022

A new regulated activity (RA 13) will be introduced which will subject trustees and custodians of public funds to licensing requirements and ongoing regulatory supervision.