The Hong Kong Securities and Futures Commission’s (SFC) proposal for sweeping enforcement-related reforms would significantly impact the regulatory landscape in Hong Kong.  If the proposals are adopted as drafted, firms and individuals will need to prepare themselves for the more aggressive enforcement action and potentially greater financial consequences.

Our detailed e-bulletin on the proposed reform covers, (i) amendments to section 213 of the Securities and Futures Ordinance which, if adopted, would significantly enhance the SFC’s ability to obtain investor compensation orders against firms or individuals who have committed wrongdoing; (ii) amendments to the ambit of the professional investor exemption in respect of the offer of investments regime which, if adopted, would limit the exemption to unauthorised investment advertisements issued only to professional investors; and (iii) an expanded insider dealing regime which, if adopted, would allow the SFC to tackle cross-border insider dealing offences more effectively.  Click here to read the ebulletin.

Hannah Cassidy
Hannah Cassidy
Partner, Head of Financial Services Regulatory, Asia, Hong Kong
+852 2101 4133
Natalie Curtis
Natalie Curtis
Partner, Singapore
+852 2101 4257
Calvin To
Calvin To
Associate, Hong Kong
+852 2101 4257
Gareth Thomas
Gareth Thomas
Partner, Head of Commercial Litigation, Hong Kong
+852 2101 4025
Jojo Fan
Jojo Fan
Partner, Hong Kong
+852 2845 6639

Disclaimer

Herbert Smith Freehills LLP is licensed to operate as a foreign law practice in Singapore. Where advice on Singapore law is required, we will refer the matter to and work with licensed Singapore law practices where necessary.