Securities and Futures Commission

Market Infrastructure

Stock Connect Set to Include Pre-profit Biotechs, STAR Market Stocks

By Manesh Samtani | 26/11/2020

In a policy address, Hong Kong chief executive Carrie Lam discussed measures to expand Stock Connect and enhance the city’s integration into the Greater Bay Area.

Enforcement

SFC Bans Ex-StanChart Banker For Concealing Personal Trades

By Editors | 25/11/2020

The SFC’s decision followed a referral from the HKMA, which discovered that the former banker also wilfully misrepresented himself to the Appeals Tribunal.

Fintech / Regtech

SFC Signs Fintech Cooperation Agreement with Israeli Regulator

By Editors | 17/11/2020

The agreement establishes a framework for information sharing, potential joint innovation projects and referrals of innovative firms seeking to enter one another’s markets.

Securities / Derivatives

SFC Plans to Issue Code of Conduct for Investment Banks – Report

By Editors | 16/11/2020

The SFC is reportedly seeking to frame a detailed code of conduct for capital raisings that will cover how investment banks calculate their fees.

Market Infrastructure

HKEX Proposes Revamp of Hong Kong IPO Settlement Process

By Manesh Samtani | 16/11/2020

Subject to market support and readiness, HKEX intends to launch a new platform called FINI in 2022 that will cut the IPO settlement process from T+5 to T+1.

Enforcement

SFC Fines Credit Suisse Securities Over Market Making Errors

By Editors | 09/11/2020

Credit Suisse Securities submitted 17,000 erroneous market making quotes to the market in 8 minutes due to a logic error in its symbol mapping programme.

AML / KYC

SFC Eases Uncertainty Over National Security Law – Report

By Editors | 09/11/2020

Implementing US sanctions is unlikely to be considered a breach of the national security law. The SFC has dropped a plan to force cloud providers to share client data.

AML / KYC

Hong Kong to Align Crypto Regulatory Framework with FATF Standards

By Manesh Samtani | 03/11/2020

The government proposes to introduce a new licensing regime for VASPs that trade non-security tokens, and a registration regime for dealers in precious metals and stones.

Enforcement

SFC Suspends Licence of Mason Securities Representative

By Editors | 30/10/2020

The former licensed representative said she had forgotten to declare an external securities trading account initially, and “could not be bothered to do so subsequently”.