Tag: Hong Kong SFC

May 29, 2018 BY Valentina Kirilova

SFC fines Noah Holdings Limited HK$5 million for regulatory breaches

The Hong Kong Securities and Futures Commission (SFC) announced that it has publicly reprimanded and fined Noah Holdings (Hong Kong) Limited (Noah HK) HK$5 million over Noah HK’s internal system and control failures in its sale and distribution of investment products. In particular, Noah HK had failed to comply with various regulatory requirements on know-your-client,…

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May 16, 2018 BY Valentina Kirilova

Hong Kong SFC highlights concerns noted in licensing applications

The Securities and Futures Commission (SFC) today published the latest issue of its SFC Compliance Bulletin: Intermediaries to highlight its concerns when it considers licensing applications and provide an update on the implementation of the Manager-In-Charge (MIC) regime. Case studies illustrate the SFC’s regulatory focus and areas of concern which could result in the refusal…

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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

Hong Kong SFC CEO reappointed Chair of IOSCO Board

The Securities and Futures Commission (SFC) has just announced that its Chief Executive Officer, Mr Ashley Alder, has been reappointed as Chair of the new Board of the International Organization of Securities Commissions (IOSCO) at IOSCO’s annual conference in Budapest. The SFC’s Chairman, Mr Carlson Tong said: I am delighted with Ashley’s reappointment to chair…

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April 13, 2018 BY Valentina Kirilova

SFC fines Instinet Pacific Limited $17.3 million

The Hong Kong Securities and Futures Commission (SFC) has announced that it has reprimanded and fined Instinet Pacific Limited (IPL) $17.3 million after resolving concerns over IPL’s breaches of the Code of Conduct in relation to its electronic and algorithmic trading systems and alternative liquidity pool (ALP). In November 2016, the SFC and IPL jointly…

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April 04, 2018 BY LeapRate Staff

FX broker Juno Markets removed from Hong Kong SFC Alert List

LeapRate has learned that Retail FX broker Juno Markets has been removed from Hong Kong Financial regulator SFC's Alert List. The Alert List is a compilation of entities which have come to the attention of the SFC because they are unlicensed in Hong Kong and are believed to be, or to have been, targeting Hong Kong…

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SFC fines
March 22, 2018 BY Valentina Kirilova

Hong Kong SFC fines individual $8,000 for unlicensed dealing

The Eastern Magistrates’ Court today convicted Mr Chan Chi Kit of unlicensed dealing in securities in a prosecution brought by the Hong Kong Securities and Futures Commission (SFC), the regulator announced earlier today. Chan pleaded guilty and was fined $8,000 and ordered to pay the SFC’s investigation costs. The Court heard that Chan carried on…

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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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