Tag: Securities and Futures Commission

Hong Kong SFC
December 08, 2016 BY Valentina Kirilova

SFC issues record high second-quarter report

The Securities and Futures Commission (SFC) today published its Quarterly Report summarising key developments from July to September 2016. Highlights of the quarter include the August joint announcement by the SFC and the China Securities Regulatory Commission of the in-principle approval for Shenzhen-Hong Kong Stock Connect, and the launch of a consultation on enhancements to…

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December 02, 2016 BY Valentina Kirilova

SFC and FINMA sign agreement on Switzerland-Hong Kong Mutual Recognition of Funds

The Securities and Futures Commission (SFC) and the Swiss Financial Market Supervisory Authority (FINMA) have signed a Memorandum of Understanding on Switzerland-Hong Kong Mutual Recognition of Funds and Asset Managers (MoU), which will allow eligible Swiss and Hong Kong public funds to be distributed in each other’s market through a streamlined vetting process. The MoU…

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November 23, 2016 BY Valentina Kirilova

SFC proposes to enhance asset management regulation and point-of-sale transparency

The Securities and Futures Commission (SFC) has launched a three-month consultation on proposals to enhance the regulation of the asset management industry in Hong Kong to better protect investors’ interests and ensure market integrity. The SFC formulated the proposals following a review of the major international regulatory developments, and taking into account observations and views…

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October 21, 2016 BY Valentina Kirilova

Hong Kong SFC adds Option500 to its alert list

Hong Kong’s financial regulator the Securities and Futures Commission (SFC) has updated its Alert List, which features the names of businesses that are unlicensed in Hong Kong and are believed to be, or to have been, targeting Hong Kong investors or claim to have an association with Hong Kong. Added to the SFC Alert List…

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October 19, 2016 BY Valentina Kirilova

SFC reprimands and fines FXCM Asia Limited HK$4 million

The Securities and Futures Commission (SFC) has reprimanded and fined FXCM Asia Limited (HK FXCM) (now known as Rakuten Securities Hong Kong Limited) HK$4 million for regulatory breaches in relation to its order execution practice for foreign exchange (Forex) trading. An SFC investigation found that from December 2006 to December 2010, HK FXCM and its…

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October 13, 2016 BY Valentina Kirilova

SFC commences cybersecurity review on brokers’ internet and mobile trading systems

The Securities and Futures Commission (SFC) has launched a review to assess the cybersecurity preparedness, compliance and resilience of brokers’ internet and mobile trading systems. The review followed a number of reports from securities brokers that the security of some customers’ internet and mobile trading accounts has been compromised and unauthorized securities trading transactions were…

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October 05, 2016 BY Valentina Kirilova

SFC bans a former employee of HSBC for life

The Securities and Futures Commission (SFC) has banned Ms Chen Chia Hui, a former employee of The Hongkong and Shanghai Banking Corporation Limited (HSBC), from re-entering the industry for life following her conviction for bribery. The District Court found that Chen, a relationship manager of HSBC at the material time, accepted a secret commission in…

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