Securities and Futures Commission

Securities / Derivatives

Hong Kong FSDC Declares Support for Proposed SPAC Regime

By Manesh Samtani | 03/11/2021

The FSDC says requiring SPAC shares and warrants to be distributed to at least 75 professional investors could present an “unnecessarily high threshold”.

Enforcement

SFC Fines Fulbright Securities Over Internal Control Failures

By Editors | 02/11/2021

Fulbright Securities breached regulatory requirements when processing placement subscription applications for a Hong Kong-listed company in August 2018.

Securities / Derivatives

Hong Kong Introduces Fund Re-domiciliation Mechanisms

By Manesh Samtani | 01/11/2021

New mechanisms have been established to enable investment funds set up overseas to re-domicile to Hong Kong as OFCs or LPFs.

Securities / Derivatives

SFC Finalises Conduct Rules for Bookbuilding, Placing Activities

By Manesh Samtani | 31/10/2021

New requirements on bookbuilding, pricing, allocation and placing activities will take effect in August 2022, the SFC said.

Securities / Derivatives

HKMA, SFC Direct Intermediaries to Improve Client Trade Practices

By Editors | 30/10/2021

Intermediaries have been required to undertake remedial action to address non-compliance with transaction-related disclosure requirements.

Securities / Derivatives

SFC Finalises Changes to Code on Pooled Retirement Funds

By Editors | 29/10/2021

The amendments include enhanced requirements for PRF operators including product providers, trustees, management companies and insurance companies.

Enforcement

SFC Bans Former StanChart Licensee for Life

By Editors | 28/10/2021

The former licensee failed to disclose to the SFC in licensing applications that he was the subject of a criminal investigation.

ESG / Sustainability

A Look at the SFC’s Climate Risk Requirements for Fund Managers

By Michael P Wong | 27/10/2021

The new requirements will have a significant impact on in-scope fund managers, and not just those that follow ‘sustainable’ or ‘ESG’ strategies, says Dechert partner Michael Wong.

AML / KYC

HKMA, SFC Issue FAQ on ‘Offence Related Property’ Under NSL

By Editors | 25/10/2021

FIs “must” disclose to the JFIU property held by persons charged for offences under the National Security Law regardless of the portion of shareholdings.