Securities and Futures Commission

Securities / Derivatives

SFC Orders Brokers to Freeze Client Assets in Market Manipulation Case

By Editors | 22/03/2019

The prohibition orders as part an investigation into suspicious trading which appeared to create a false market in China Ding Yi Feng shares leading to an “irrationally high share price”.

Securities / Derivatives

SFC Extends Compliance Deadline for New Rules on Complex Products

By Editors | 20/03/2019

The SFC has extended the deadline for compliance with new rules requiring firms to ensure client suitability when selling complex products by two months.

Enforcement

SFC Fines BOCI Securities for ‘Systemic Deficiencies’ in Selling Practices

By Editors | 19/03/2019

BOCI Securities failed to comply with requirements relating to client profiling, product due diligence, and suitability assessment in its sale and distribution of investment products.

Enforcement

SFC Fines UBS and Others HK$787mn for IPO Sponsor Failures

By Manesh Samtani | 15/03/2019

“The sanctions send a strong and clear message to the market that we will not hesitate to hold errant sponsors accountable for their misconduct,” said SFC chief Ashley Alder.

Enforcement

UBS, StanChart to Settle Hong Kong IPO Misconduct Case

By Editors | 12/03/2019

The case goes back to the 2009 listing of a Chinese timber company, which was later suspended for accounting irregularities. Details of the settlement will be released at a later date.

Market Infrastructure

HKEX Three Year Plan Lays Out Global Ambitions

By Manesh Samtani | 01/03/2019

HKEX plans to introduce A-share futures, expand the stock and bond connect schemes, enable remote market access for Asia Pacific brokers, and modernise its operations.

Enforcement

Hong Kong Court Dismisses Short Seller’s Trading Ban Appeal

By Editors | 28/02/2019

The Court dismissed an appeal from short seller Andrew Left to overturn a 2016 ruling banning him from trading in Hong Kong for five years after he published a report containing false information.

Enforcement

SFC Suspends China Merchants Securities Exec Over Sponsor Work

By Editors | 28/02/2019

The SFC said Wu Yinong breached the Code of Conduct and the Sponsor Guidelines when he was a sponsor principal in charge of supervising the execution of a 2009 listing application.

Market Infrastructure

HKMA Turns Up the Heat, Announces Consultation on IBOR Transition

By Will Hallatt | 22/02/2019

The outcome of the HKMA and TMA consultation will be a turning point for financial services firms preparing for life after LIBOR, says international law firm Herbert Smith Freehills.