Tag: Hong Kong Securities and Futures Commission

sfc bans
September 20, 2018 BY Valentina Kirilova

SFC bans a former relationship manager of HSBC for 12 months

The Hong Kong Securities and Futures Commission (SFC) has informed the public that it has banned Mr Ngo Wing Chun, a former relationship manager of Hongkong and Shanghai Banking Corporation Limited (HSBC), from re-entering the industry for 12 months from 20 September 2018 to 19 September 2019 for unauthorized transfer of customer data. The SFC…

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Hong Kong SFC
August 24, 2018 BY Valentina Kirilova

SFC launches investor identification for northbound trading

The Hong Kong Securities and Futures Commission (SFC) has announced that it has reached an agreement with the China Securities Regulatory Commission (CSRC) to implement an investor identification regime for northbound trading under Mainland-Hong Kong Stock Connect on 17 September 2018. The investor identification regime will facilitate more effective monitoring and surveillance by the CSRC…

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SFC fines
August 22, 2018 BY Valentina Kirilova

SFC fines HPI Forex Limited $2 million for regulatory breaches

The Hong Kong Securities and Futures Commission (SFC) has just announced that it has reprimanded and fined HPI Forex Limited (HPI) $2 million for mis-handling client money. The SFC’s disciplinary action came after an admission by HPI that it had transferred client money up to $8 million to the accounts of its overseas brokers between…

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Hong Kong SFC
August 17, 2018 BY Valentina Kirilova

Hong Kong SFC addresses risks in securities margin financing

The Hong Kong Securities and Futures Commission (SFC) has launched a two-month consultation on proposed guidelines to clarify, codify and standardise the risk management practices for securities margin financing (SMF). The proposed guidelines provide qualitative guidance as well as quantitative benchmarks for margin lending policies and key risk controls to prevent SMF brokers from expanding…

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Hong Kong SFC
July 30, 2018 BY Valentina Kirilova

SFC implements open-ended fund companies regime

The Hong Kong Securities and Futures Commission (SFC) has announced the implementation of the new open-ended fund companies (OFC) regime with effect from 30 July 2018. This will enable investment funds to be established in corporate form in Hong Kong, in addition to the current unit trust form. The Code on Open-ended Fund Companies and…

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Hong Kong SFC
July 26, 2018 BY Valentina Kirilova

Broker acquitted of illegal short selling

The Eastern Magistrates’ Court has informed the public that it has found Mr Wong Hung not guilty of illegal short selling. The Hong Kong Securities and Futures Commission (SFC) alleged that, on 20 occasions between 6 and 20 January 2012, Wong sold shares of five stocks through his securities account at Hung Sing Securities Limited,…

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Hong Kong SFC
July 13, 2018 BY Valentina Kirilova

SFC standardises rules for prescribing professional investors

The Hong Kong Securities and Futures Commission (SFC) announced that amendments to the Securities and Futures (Professional Investor) Rules (PI Rules) have come into operation today. The categories of professional investors have been expanded to include holding companies which wholly own another corporation which is itself a qualified professional investor. Directors of holding companies should…

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