SFC issues 3Q report with a record high in total number of licensed corporations and registered institutions


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The Securities and Futures Commission (SFC) published its Quarterly Report summarising key developments from October to December 2016.

Highlights include the launch of Shenzhen-Hong Kong Stock Connect and the signing of a mutual recognition of funds agreement between the SFC and the Swiss Financial Market Supervisory Authority.

During the quarter, the SFC began a public consultation on proposals to enhance asset management regulations and point-of-sale transparency, and published a circular on the Manager-In-Charge initiative, which aims to clarify the accountability of the senior management of licensed corporations. Two other circulars provided clarification and guidance on licensees’ existing suitability obligations.

In addition, the SFC announced that it is working together with The Stock Exchange of Hong Kong Limited (SEHK) to closely monitor rights issues and open offers and to review the relevant Listing Rules.

The total number of licensed corporations, individuals and registered institutions reached a record high of 42,665 as of 31 December, while the number of licensed corporations rose 11% to 2,411, also a record high. Under the dual filing regime, the SFC vetted 193 listing applications alongside SEHK in the nine months to December, up 12.9% year-on-year.

To see the complete report, click here.

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SFC issues 3Q report with a record high in total number of licensed corporations and registered institutions

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