Tag Archives: SFC

HK SFC launches consultation on Proposed Guidelines on online distribution and advisory platforms and proposes to extend Suitability Requirement

On 5 May 2017, the Hong Kong SFC launched a three-month consultation in relation to proposed guidelines on online distribution and advisory platforms (Proposed Guidelines). The aim of the Proposed Guidelines is to provide tailored guidance and clarity on the … Continue reading

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Filed under Asia, Hong Kong

SFC and HKMA continue to prioritise AML/CFT compliance with six new disciplinary actions in Hong Kong

Since early March 2017, the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) in Hong Kong have collectively taken disciplinary actions against five regulated entities and an individual relating to breaches of anti-money laundering (AML) and … Continue reading

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Filed under Asia, Hong Kong, Sanctions and Money Laundering

Recent SFC actions highlight increased regulatory focus on directors in Hong Kong, including INEDs

The Securities and Futures Commission (SFC) in Hong Kong has recently sought disqualification orders against listed company directors in a number of court actions commenced in the past few months.  The proceedings against the directors have been brought under section … Continue reading

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Hong Kong SFC urges intermediaries to review compliance with AML/CFT requirements following identification of deficiencies

On 26 January 2017, the Securities and Futures Commission (SFC) issued a circular (with Appendix 1, Appendix 2 and Appendix 3) highlighting its concerns regarding compliance by licensed corporations (LCs) and associated entities (AEs) with anti-money laundering and counter financing … Continue reading

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Filed under Asia, Hong Kong, Sanctions and Money Laundering

Hong Kong regulators issue guidance to sponsors, underwriters and placing agents on GEM initial public offerings

New listings on the Growth Enterprise Market (GEM) in Hong Kong have been repeatedly in the headlines in recent years for dramatic share price increases on their listing debuts and high share price volatility in post-listing periods. This has led to … Continue reading

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SFC issues further guidance on suitability obligations – the cornerstone of investor protection

As foreshadowed in the Consultation Conclusions on the Proposed Amendments to the Professional Investor Regime and Further Consultation on the Client Agreement Requirements issued by the Securities and Futures Commission (SFC) on 25 September 2014, the SFC has conducted a … Continue reading

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Hong Kong SFC confirms enforcement priorities and approach following strategic review

In its recently relaunched Enforcement Reporter newsletter (see first issue), the Securities and Futures Commission (SFC) has confirmed that corporate fraud and misfeasance, anti-money laundering, Growth Enterprise Market companies and multiple intra-group failings are issues high on its agenda and … Continue reading

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Filed under Hong Kong, Sanctions and Money Laundering

Hong Kong SFC commences consultation on enhancing regulation of asset management industry and point-of-sale transparency

The Securities and Futures Commission (SFC) has announced the launch of a three-month consultation regarding proposed enhancements to the regulation of the asset management industry and other amendments aimed at enhancing point-of-sale transparency and addressing conflicts of interest in the … Continue reading

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Filed under Asia, Hong Kong, Regulatory Reform

Consultation launched on proposed regulations on protected arrangements following enactment of the Financial Institutions (Resolution) Ordinance

The Financial Institutions (Resolution) Ordinance (Ordinance), which sets out the framework for a cross-sector regime for the orderly resolution of financial institutions in Hong Kong, was passed by the Legislative Council (LegCo) on 22 June 2016. The Ordinance largely follows … Continue reading

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Cybersecurity in Hong Kong: SFC’s review of brokers’ internet and mobile trading systems

On 13 October 2016, the Securities and Futures Commission (SFC) announced it had issued a circular launching a cybersecurity review with a focus on assessing the cybersecurity preparedness, compliance and resilience of brokers’ internet and mobile trading systems (Review). The … Continue reading

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Filed under Hong Kong