The Hong Kong Securities and Futures Commission (SFC) announced that has prohibited Mr Xu Tao, a former investment consultant of China International Capital Corporation Hong Kong Securities Limited (CICC), from re-entering the industry for four months from 11 October 2017 to 10 February 2018 (Xu was licensed under the Securities and Futures Ordinance to carry…
Read more
The Eastern Magistrates’ Court today announced that has convicted ETRADE Securities (Hong Kong) Limited (ETrade HK) for actively marketing to the Hong Kong public US brokerage services provided by E*TRADE Securities LLC (ETrade US) which was not a licensee of the Securities and Futures Commission (SFC). This is the first criminal conviction secured by the…
Read more
The Eastern Magistrates’ Court today convicted Fonia Kwok Lai Kwan of carrying on a business in asset management trading under the name of Finamics Capital Management (Finamics) and Lawrence Ho Man Chung of performing a regulated function in relation to the asset management of Finamics without licences from the Hong Kong Securities and Futures Commission…
Read more
The Court of First Instance has dismissed the appeal of Hong Kong Game Theory Association Limited (Hong Kong Game Theory) and its sole director Mr Sze Ching Lok against their convictions for carrying on a business in advising on futures contracts without a licence, Hong Kong SFC announced earlier today. In dismissing the appeal, Deputy…
Read more
The Securities and Futures Commission (SFC) announced that has launched a two-month consultation on the detailed legal and regulatory requirements applicable to the new open-ended fund company (OFC) structure. The OFC structure will enable investment funds to be established in corporate form in Hong Kong, in addition to the current unit trust form. The consultation…
Read more
The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) today published conclusions on a joint consultation paper which proposed adjusting the scope of “OTC derivative product” under the over-the-counter (OTC) derivatives regulatory regime. The proposed adjustments were to: prescribe certain additional markets and clearing houses so that products traded and cleared…
Read more
The Market Misconduct Tribunal (MMT) today ordered the former chairman and chief executive officer of Greencool Technology Holdings Limited, Mr Gu Chujun, to disgorge $481,969,785 of profit from his market misconduct, Hong Kong SFC just announced. This is the largest disgorgement order amount ever imposed by the MMT to date. On 29 December 2016, the…
Read more
The Hong Kong Securities and Futures Commission (SFC) today issued a circular to clarify certain competence requirements for existing licensed persons seeking to be licensed for Type 9 regulated activity (asset management) and to provide further guidance on how the SFC assesses the competence of a corporation or a responsible officer (RO) to carry on…
Read more
The Hong Kong Securities and Futures Commission (SFC) has banned Mr Fok Chi Kin from re-entering the industry for eight months from 20 June 2017 to 19 February 2018. Fok was a vice president of JPMorgan Funds (Asia) Limited (JPFL) providing sales support before he tendered his resignation on 8 March 2016. He left JPFL…
Read more
MSCI announced today that beginning in June 2018, it will include A shares in the MSCI Emerging Markets Index. Mr Ashley Alder, the SFC’s Chief Executive Officer, commented: The inclusion of A shares in the MSCI Emerging Markets Index signifies the growing importance of the A-share market to international investors, and will further strengthen Hong…
Read more