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SFC Imposes Tougher Requirements for ILAS Products
By Manesh Samtani | 04/11/2021
ILAS products should be designed fairly and deliver fair outcomes. Issuers should lower surrender charges. Product features should not be unduly complex.
Crypto / Digital Assets
Hong Kong Virtual Assets Regime Under Review: SFC
By Sanday Chongo Kabange | 03/11/2021
The SFC is considering whether licensed firms should be allowed to provide crypto trading services to clients through omnibus account arrangements, and whether to allow crypto ETFs.
Hong Kong Ends Quarantine Exemptions for Senior Finance Execs
By Editors | 03/11/2021
Listed company directors and senior financial industry executives will no longer be able to skip hotel quarantine procedures upon entry into Hong Kong.
Securities / Derivatives
Hong Kong FSDC Declares Support for Proposed SPAC Regime
By Manesh Samtani | 03/11/2021
The FSDC says requiring SPAC shares and warrants to be distributed to at least 75 professional investors could present an “unnecessarily high threshold”.
Enforcement
SFC Fines Fulbright Securities Over Internal Control Failures
By Editors | 02/11/2021
Fulbright Securities breached regulatory requirements when processing placement subscription applications for a Hong Kong-listed company in August 2018.
Securities / Derivatives
Hong Kong Introduces Fund Re-domiciliation Mechanisms
By Manesh Samtani | 01/11/2021
New mechanisms have been established to enable investment funds set up overseas to re-domicile to Hong Kong as OFCs or LPFs.
Securities / Derivatives
SFC Finalises Conduct Rules for Bookbuilding, Placing Activities
By Manesh Samtani | 31/10/2021
New requirements on bookbuilding, pricing, allocation and placing activities will take effect in August 2022, the SFC said.
Securities / Derivatives
HKMA, SFC Direct Intermediaries to Improve Client Trade Practices
By Editors | 30/10/2021
Intermediaries have been required to undertake remedial action to address non-compliance with transaction-related disclosure requirements.
Securities / Derivatives
SFC Finalises Changes to Code on Pooled Retirement Funds
By Editors | 29/10/2021
The amendments include enhanced requirements for PRF operators including product providers, trustees, management companies and insurance companies.
Enforcement
SFC Bans Former StanChart Licensee for Life
By Editors | 28/10/2021
The former licensee failed to disclose to the SFC in licensing applications that he was the subject of a criminal investigation.
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