SFC proposes enhancements to the Investor Compensation Regime LeapRate

April 27, 2018 BY Valentina Kirilova

SFC proposes enhancements to the Investor Compensation Regime

The Hong Kong Securities and Futures Commission (SFC) has informed the public that it has today launched a two-month consultation on proposed enhancements to the Investor Compensation Regime. Key proposals include increasing the compensation limit from $150,000 to $500,000 per investor per default and covering northbound trading under Mainland-Hong Kong Stock Connect. In addition, the…

April 24, 2018 BY Valentina Kirilova

SFC fines CN Capital Management Limited $1.2 million over regulatory breaches

The Hong Kong Securities and Futures Commission (SFC) announced that it has reprimanded CN Capital Management Limited (CN Capital) and fined it $1,000,000 for failing to maintain an effective compliance function and satisfactory internal controls concerning employee account dealing. The SFC has also reprimanded its responsible officers, Mr George Chan Yee Lee and Mr Stephen…

September 14, 2017 BY Valentina Kirilova

SFC and Securities Commission Malaysia sign Fintech cooperation agreement

The Hong Kong Securities and Futures Commission (SFC) today entered into an agreement with the Securities Commission Malaysia to establish a framework for cooperation on financial technology (Fintech). The SFC and Securities Commission Malaysia agreed to cooperate on information sharing and referrals of innovative firms seeking to enter one another’s markets. Cooperation between regulatory counterparts…

September 11, 2017 BY Valentina Kirilova

Hong Kong SFC commences insider dealing prosecution in China CBM shares

The Hong Kong Securities and Futures Commission (SFC) announced that has commenced criminal proceedings in the Eastern Magistrates’ Court today against Mr Au-Yeung Siu Pang over alleged insider dealing in the shares of China CBM Group Company Limited (China CBM) (China CBM was listed on the Growth Enterprise Market of The Stock Exchange of Hong…

September 07, 2017 BY Valentina Kirilova

SFC censures directors of Taiwan Cement Corporation for breaches of the Takeovers Code

The Hong Kong Securities and Futures Commission (SFC) announced that has publicly censured Chen Chi-Te and Kenneth C.M. Lo for breaching the dealing provisions under the Takeovers Code. As directors of Taiwan Cement Corporation (TCC), both Chen and Lo are parties acting in concert with TCC in a proposed privatisation of TCC International Holdings Limited…

September 04, 2017 BY Valentina Kirilova

SFC obtains disqualification orders against chairman and directors of Hanergy Thin Film Power Group Ltd

The Hong Kong Securities and Futures Commission (SFC) today obtained disqualification orders in the Court of First Instance against the former chairman, Mr Li Hejun, and four current independent non-executive directors, Ms Zhao Lan, Mr Wang Tongbo, Mr Xu Zheng and Mr Wang Wenjing, of Hanergy Thin Film Power Group Limited (Hanergy). Li was disqualified…

August 31, 2017 BY Valentina Kirilova

SFC censures a shareholder of Union Asia Enterprise Holdings Limited

The Hong Kong Securities and Futures Commission (SFC) has publicly censured and imposed a 24-month cold shoulder order against Yeung Wing Yee for breaching the mandatory general offer obligation of the Takeovers Code. Yeung became a shareholder of Union Asia Enterprise Holdings Limited (Union Asia) in July 2016. He increased his interest in Union Asia…

August 30, 2017 BY Valentina Kirilova

SFC issues restriction notices to three brokers to freeze client accounts

The Hong Kong Securities and Futures Commission (SFC) announced that has issued restriction notices to Caitong International Securities Co., Ltd, Pacific Foundation Securities Limited and Yuanta Securities (Hong Kong) Company Limited (the brokers), prohibiting them from dealing with or processing certain assets held in client accounts which are related to suspected market manipulation in the…

August 03, 2017 BY Valentina Kirilova

SFC publicly censures China Life Insurance (Overseas) Company Ltd for breaches of takeovers code

The Hong Kong Securities and Futures Commission (SFC) has publicly censured China Life Insurance (Overseas) Company Limited as a result of its failure to disclose its dealings in the shares of Glorious Property Holdings Limited in contravention of the Code on Takeovers and Mergers. Between 9 May and 5 August 2016, China Life executed 2,139…

July 31, 2017 BY Valentina Kirilova

SFC identifies irregularities in private funds and discretionary accounts

The Hong Kong Securities and Futures Commission (SFC) has today issued a circular expressing its concerns about the management of some private funds and discretionary accounts. During the SFC’s supervision of licensed corporations engaged in the asset management business, a number of private funds and discretionary accounts with concentrated, illiquid and interconnected investments were found…

Tag: Hong Kong Securities and Futures Commission (SFC)