SECURITIES AND FUTURES COMMISSION

Market Infrastructure

New Rules on Bookbuilding & Placing Activities Take Effect in Hong Kong

By Manesh Samtani | 10/08/2022

The new requirements represent the “most significant” regulation of debt primary markets in Asia-Pacific in recent memory, ICMA said in its latest quarterly report.

Enforcement

SFC Fines TC Capital for Due Diligence Failures in Sponsor Work

By Editors | 03/08/2022

The SFC said there was a need to send a “strong deterrent message” to the industry and market that “sponsor failures will not be tolerated”.

ESG / Sustainability

SFC Sets Out Next Steps on Green Transition Agenda

By Sanday Chongo Kabange | 03/08/2022

The agenda focuses on enhancing corporate disclosures, monitoring implementation of existing measures, and advancing work on a carbon market.

Capital / Liquidity

SFC Fines Hedge Fund Manager for Liquid Capital Deficit

By Editors | 31/07/2022

KTF Capital Management had a HK$20mn deficit between 13 and 18 December 2018 but misrepresented to the SFC that it maintained sufficient liquid capital during the period.

Securities / Derivatives

SFC Fines Fourth Broker Over Use of ‘Xinguanjia’ Trading Software

By Manesh Samtani | 26/07/2022

The software enabled Mainland investors to trade in Hong Kong without having to open a local securities account. Rifa Futures was fined HKD 9 million for AML and other failures.

Crypto / Digital Assets

Hong Kong as a Legal Centre of Excellence for Digital Finance

By Troy Song | 25/07/2022

Many crypto exchanges and institutions already choose Hong Kong as the place to resolve their disputes, but more need to be done, says Troy Song.

Enforcement

SFC Fines RBC Investment Services for Mishandling Client Assets

By Editors | 21/07/2022

The SFC said RBC Investment Services failed to segregate client money and transferred securities from client accounts without valid standing authority.

Enforcement

SFC Bans Former StanChart Representative for Three Years

By Editors | 18/07/2022

The representative’s mother transferred funds into five customers’ payroll accounts to improve his work performance.

Market Infrastructure

HKEX, SFC Extend HKIDR Testing Period Until 5 August

By Editors | 18/07/2022

Firms that have not completed the mandatory E2E Test yet are reminded to complete the test “as soon as possible”.