Tag: Hong Kong Securities and Futures Commission

May 18, 2018 BY Valentina Kirilova

SFC concludes consultation on prescribing professional investors

The Hong Kong Securities and Futures Commission (SFC) today released consultation conclusions on proposed amendments to the Securities and Futures (Professional Investor) Rules (PI Rules) to standardise the rules for prescribing professional investors. The amendments allow portfolios held in joint accounts with non-associates and in investment corporations wholly-owned by an individual to count towards meeting…

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May 15, 2018 BY Valentina Kirilova

SFC commences MMT proceedings against Magic Holdings International Limited

The Hong Kong Securities and Futures Commission (SFC) announced that it has commenced proceedings in the Market Misconduct Tribunal (MMT) against Magic Holdings International Limited (Magic) and its nine directors for failing to disclose inside information as soon as reasonably practicable on the potential acquisition of its issued shares by L’Oréal S.A. (EPA:OR), a French…

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May 11, 2018 BY Valentina Kirilova

Licence applicant convicted of providing false information to SFC

The Eastern Magistrates’ Court convicted Mr Lui Ho Yeung after he pleaded guilty to two counts of making false or misleading representations in support of his licence applications to the Hong Kong Securities and Futures Commission (SFC). Lui failed to disclose his previous criminal conviction in his SFC licence applications in 2009 and 2015 respectively.…

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April 10, 2018 BY Valentina Kirilova

Hong Kong SFC charges Fujikon and its senior executives

The Hong Kong Securities and Futures Commission (SFC) has just announced that it commenced proceedings in the Market Misconduct Tribunal (MMT) against Fujikon Industrial Holdings Limited (Fujikon) for failing to disclose inside information as soon as reasonably practicable on the discontinuance of headphone production for one of the company’s top customers. The SFC has also…

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Hong Kong SFC
March 29, 2018 BY Valentina Kirilova

Hong Kong SFC concludes consultation on online platforms

The Hong Kong Securities and Futures Commission (SFC) has released consultation conclusions on proposed Guidelines on Online Distribution and Advisory Platforms. The guidelines provide tailored guidance to the industry on the design and operation of online platforms, including specific guidance on the provision of automated or robo-advice. The guidelines also clarify that the posting of…

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Hong Kong SFC
March 19, 2018 BY Valentina Kirilova

SFC’s regulatory action halts ICO to Hong Kong public

ICO issuer Black Cell Technology Limited (Black Cell) announced that it has halted its initial coin offering (ICO) to the Hong Kong public and agreed to unwind ICO transactions for Hong Kong investors by returning them the relevant tokens following regulatory action by the Hong Kong Securities and Futures Commission (SFC) over concerns that Black…

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SFC fines
March 13, 2018 BY Valentina Kirilova

SFC fines Deutsche Bank AKTIENGESELLSCHAFT and Deutsche Securities Asia Limited $8.3 million

The Hong Kong Securities and Futures Commission (SFC) announced that it has resolved its concerns with Deutsche Bank AKTIENGESELLSCHAFT (DBAG) and its wholly-owned subsidiary Deutsche Securities Asia Limited (DSAL) over regulatory breaches related to short position reporting, unlicensed regulated activities and segregation of client monies. Under the resolution, the SFC publicly reprimanded and fined them…

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March 12, 2018 BY Valentina Kirilova

SFC and HKEX sign addendum to MOU Governing Listing Matters

The Hong Kong Securities and Futures Commission (SFC) and The Stock Exchange of Hong Kong Limited (Exchange), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX), informed that they have signed an addendum to the Memorandum of Understanding (MOU) Governing Listing Matters. Pursuant to arrangements under the Addendum, a new Listing Policy Panel…

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