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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.
ESG / Sustainability
A Look at the SFC’s Climate Risk Requirements for Fund Managers
By Michael P Wong | 27/10/2021
The new requirements will have a significant impact on in-scope fund managers, and not just those that follow ‘sustainable’ or ‘ESG’ strategies, says Dechert partner Michael Wong.
AML / KYC
HKMA, SFC Issue FAQ on ‘Offence Related Property’ Under NSL
By Editors | 25/10/2021
FIs “must” disclose to the JFIU property held by persons charged for offences under the National Security Law regardless of the portion of shareholdings.
Enforcement
Appeals Tribunal Affirms SFC Punishment of Yi Shun Da Capital
By Sanday Chongo Kabange | 21/10/2021
The Appeals Tribunal upheld the SFC’s decision to punish Yi Shun Da Capital over sponsor failures but reduced the penalty amount.
Enforcement
SFC Penalises IPO Sponsor Over Substandard Due Diligence Work
By Editors | 18/10/2021
Ample Capital Limited failed to conduct adequate due diligence on suspicious cash settlements and to keep proper records of its due diligence work.
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