SECURITIES AND FUTURES COMMISSION

Capital / Liquidity

SFC Issues Reminder on Financial Resources Adequacy Monitoring

By Sanday Chongo Kabange | 05/07/2024

The SFC issued the reminder after it found undesirable practices and internal control deficiencies leading to breaches of the liquid capital requirement.

Enforcement

Hong Kong Hedge Fund Manager To Disgorge False Trading Profit

By Sanday Chongo Kabange | 05/07/2024

The MMT has ordered a hedge fund manager to disgorge HK$ 5.6 million illicit profit and disqualified him for four years.

Enforcement

Korea Imposes Largest Ever Short-Selling Fine on Credit Suisse

By Sanday Chongo Kabange | 04/07/2024

The SFC has imposed a $19.5 million combined fine on Credit Suisse and its Singapore affiliate for naked short sale activities.

Enforcement

Korea FSS to Penalise KB Securities and Hana Securities

By Editors | 04/07/2024

The brokerage firms engaged in illegal self-trading to transfer profits and losses of some customers to other customers.

SFC Streamlines Approvals for ILAS Marketing Materials

By Sanday Chongo Kabange | 01/07/2024

Approval will no longer be required for “immaterial changes” to ILAS marketing materials that are already authorised by the SFC.

Enforcement

SFC Bars Former Securities Exec Over Secret Trading Account

By Sanday Chongo Kabange | 27/06/2024

The former chief operations officer of DA International Financial Service violated the company’s employee dealing policy.

Crypto / Digital Assets

Hong Kong FIs Keen on DeFi and Metaverse: AoF Reports

By Sanday Chongo Kabange | 26/06/2024

HKMA said FIs are interested in exploring opportunities brought by DeFi and metaverse as they expand involvement in virtual assets.

Enforcement

Hong Kong SFC Suspends Ex-PICC Investment Manager

By Sanday Chongo Kabange | 21/06/2024

The former investment manager failed to properly manage the risks of the fund, including liquidity and concentration risks.

Market Infrastructure

Hong Kong to Start Trading During Typhoons from 23 Sep

By Sanday Chongo Kabange | 19/06/2024

Special arrangements will be available to smaller and mid-sized brokers. HKMA said banks stand ready to fulfill clearing and settlement obligations.