Securities and Futures Commission

Securities / Derivatives

Oil Volatility Prompts SFC Call for Vigilance, Contingency Plans

By Editors | 24/04/2020

Commodity futures brokers should control exposures to clients and pre-arrange for contingent funding and capital support to be available from group companies or shareholders.

Enforcement

Hong Kong Exchange Censures Ding Yi Feng Executives

By Editors | 23/04/2020

Three former non-executive directors of China Ding Yi Feng were censured for breaching the listing rules and disclosure obligations.

AML / KYC

SFC Fines BOCOM International Securities for “Serious” Breaches

By Editors | 20/04/2020

The brokerage did not have effective controls to identify third party deposits, and “extensive deficiencies” were found in its handling of margin lending and margin calls.

Securities / Derivatives

SFC Seeks Certainty on ETF Market Making Continuity

By Editors | 18/04/2020

ETF management companies should procure more than one market maker, or secure arrangements for alternative market makers to quickly step in if there is a disruption.

Securities / Derivatives

SFC Raises Concerns with Leveraged Foreign Exchange Trading

By Editors | 10/04/2020

Brokers reported that more than 60% of clients who engage in leveraged foreign exchange trading made net trading losses, some in excess of HK$1mn.

Securities / Derivatives

Hong Kong to Implement Paperless Securities Market from 2022

By Editors | 08/04/2020

Submissions to a January 2019 consultation indicate strong support for the implementation of an uncertificated securities market in Hong Kong.

Enforcement

SFC Fines HSBC Units for Cash Management Failures at Funds

By Editors | 07/04/2020

The identified concerns have all since been rectified, and the two units have agreed to pay over $430,000 into the affected funds, on top of a $451,000 fine from the SFC.

AML / KYC

Global AML, Sanctions Fines Topped $8bn in 2019: Fenergo

By Editors | 02/04/2020

Last year was the second-biggest year on record for fines against financial institutions for AML and sanctions violations, according to a new report from Fenergo.

Securities / Derivatives

SFC, Stock Exchange Issue Guidance on Holding General Meetings

By Editors | 01/04/2020

Listed issuers should consider adjourning or delaying their general meetings until at least after 11 April, when the prohibition on group gatherings has ended.