SECURITIES AND FUTURES COMMISSION

Enforcement

HK Retail Trader Convicted of Fraud Involving Naked Short Selling

By Sanday Chongo Kabange | 28/02/2024

This is the first criminal conviction in Hong Kong for securities fraud involving illegal short selling.

Crypto / Digital Assets

HK-based Crypto Firm BitForex Disappears With User Funds

By Mark Johnston | 27/02/2024

$56mn in crypto was removed from the exchange before it stopped processing transactions and responding to user queries.

Enforcement

SFC Launches Proceedings Against Ex-Chairman of Ding Yi Feng

By Sanday Chongo Kabange | 27/02/2024

The SFC is seeking orders requiring the former chairman and 20 others to compensate investors for losses suffered as a result of a 2018 price manipulation scheme.

Crypto / Digital Assets

HK Crime Cases Involving Crypto Have Tripled Since 2021

By Mark Johnston | 25/02/2024

The SFC and police recorded 3,415 cases of virtual asset crimes in 2023, involving around HKD 4.4 billion (USD 562 million).

ESG / Sustainability

Hong Kong Launches New Tools to Improve GHG Reporting

By Manesh Samtani | 22/02/2024

The calculation tool will help SMEs calculate GHG emissions; the estimation tool will help FIs estimate emissions of investees and borrowers.

Securities / Derivatives

HKEX Introduces Exemption for Dealing in Suspended Securities

By Sanday Chongo Kabange | 21/02/2024

An exemption to the restriction on dealing in suspended securities has been introduced to facilitate stock option settlement.

Crypto / Digital Assets

Hong Kong Proposes Regulatory Framework for OTC Crypto Venues

By Manesh Samtani | 09/02/2024

Firms providing “spot trade of any virtual assets for money” such as physical shops and ATMs would have to be licensed by the Commissioner of Customs and Excise.

Enforcement

SFC Bans Two Licensed Reps Over Bribery Convictions

By Sanday Chongo Kabange | 07/02/2024

The SFC barred two former representatives of Nerico Brothers, considering them “not fit and proper” to be licensed.

Enforcement

SFC Fines PICC Asset Management for Fund Management Failures

By Sanday Chongo Kabange | 06/02/2024

The SFC penalised PICC Asset Management for failing to discharge duties as the manager of a Cayman-incorporated fund.