Tag: Securities and Futures Commission

Hong Kong SFC
October 05, 2018 BY Valentina Kirilova

Hong Kong SFC appoints new Non-Executive Directors

The Hong Kong Securities and Futures Commission (SFC) has welcomed the appointment by the Financial Secretary of Ms Agnes Chan Sui-kuen and the re-appointment of Mr Edward Cheng Wai-sun as Non-Executive Directors for a term of two years. The term of Ms Chan will begin on 20 October 2018 and Mr Cheng’s term will start…

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BIS announces key appointments in Singapore and Switzerland
September 10, 2018 BY Valentina Kirilova

Hong Kong SFC welcomes appointment of new Chairman

The Securities and Futures Commission (SFC) has welcomed the appointment by the Chief Executive of Mr Tim Lui Tim-leung as the Chairman of the SFC for a term of three years from 20 October 2018. Mr Lui will succeed Mr Carlson Tong, who will step down next month having chaired the SFC for six years…

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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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Regulation
March 27, 2018 BY Valentina Kirilova

Hong Kong regulators to enhance the OTC derivatives regulatory regime

The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) have issued a joint consultation on further enhancements to the over-the-counter (OTC) derivatives regulatory regime in Hong Kong, including a proposal to mandate the use of the Legal Entity Identifier (LEI) for the reporting obligation. To align with global standards, all entities…

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February 26, 2018 BY Valentina Kirilova

Hong Kong SFC and FINMA sign Fintech cooperation agreement

The Securities and Futures Commission (SFC) announced that it has entered into an agreement with the Swiss Financial Market Supervisory Authority (FINMA) to establish a framework for cooperation on financial technology (Fintech). Under the agreement, the SFC and FINMA will cooperate to share information on emerging Fintech trends, developments and related regulatory issues as well…

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February 09, 2018 BY Valentina Kirilova

Hong Kong SFC warns of cryptocurrency risks

The Securities and Futures Commission (SFC) once again alerts investors to the potential risks of dealing with cryptocurrency exchanges and investing in initial coin offerings (ICOs). Following a statement on ICOs released on 5 September 2017, the SFC has taken regulatory action against a number of cryptocurrency exchanges and issuers of ICOs. The SFC has…

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January 30, 2018 BY Valentina Kirilova

Hong Kong SFC provides guidance on best execution

The Securities and Futures Commission (SFC) today issued a circular setting out guidance on the standards of conduct and internal controls the SFC expects of licensed corporations (LCs) in delivering best execution. This follows a thematic review of selected LCs which assessed the effectiveness and adequacy of arrangements for delivering best execution. The circular reminds…

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Hong Kong SFC
January 19, 2018 BY Valentina Kirilova

Hong Kong SFC proposes amendments to takeovers rules

The Securities and Futures Commission (SFC) informed that it has today launched a three-month consultation on proposed amendments to the Codes on Takeovers and Mergers and Share Buy-backs (Codes). Key proposals enhance investor protection by increasing the voting approval threshold for whitewash waivers to 75% of independent shareholders and empowering the Takeovers Panel to require…

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SFC fines
January 11, 2018 BY Valentina Kirilova

Hong Kong SFC reprimands and fines EFG Bank AG $2 million

The Securities and Futures Commission (SFC) announced that it has reprimanded and fined EFG Bank AG (EFG Bank) $2 million for dealing in futures contracts without the required registration. The SFC found that between 1 April 2003 and 22 November 2016, EFG Bank executed 139 transactions in offshore listed index options for 11 clients without…

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