Securities and Futures Commission

Enforcement

SFC Bans Two Individuals for Window-Dressing Scheme

By Editors | 17/12/2019

For 3 years, the month-end liquid capital of W. Falcon Asset Management was falsely inflated with amounts on cheques that were later dishonoured.

Securities / Derivatives

SFC to Allow Hong Kong ETFs to Invest in Overseas Master ETFs

By Editors | 17/12/2019

The SFC will authorise index tracking feeder ETFs that want to invest in an overseas-listed, non-SFC authorised master ETF on a case-by-case basis.

ESG / Sustainability

Asset Managers Looking to Boost ESG, Climate Efforts: SFC

By Manesh Samtani | 17/12/2019

There is significant interest among asset management firms to step up their ESG efforts and management of environmental and climate risks, an SFC survey has found.

Enforcement

SEBI Bans Fidelity Trader and Family Members for Front-Running

By Editors | 10/12/2019

The trader used non-public information to front-run impending trades of Fidelity Group entities with his mother and sister’s trading accounts from Hong Kong.

Securities / Derivatives

SFC, HKMA to Launch New Survey to Assess Product Selling Risks

By Editors | 10/12/2019

The survey will help the SFC and HKMA identify risks associated with the selling activities of intermediaries and coordinate their responses to address areas of common concern.

AML / KYC

SSE, SZSE Propose Rules Changes to Implement Investor ID Regime

By Editors | 25/11/2019

Under the regime, brokers must assign a unique digital code that identifies each investor, who will be “deemed to agree” that their information may be transferred to the Hong Kong SFC and SEHK.

Enforcement

SFC Warns Against Concealing Identities of Transacting Counterparties

By Manesh Samtani | 22/11/2019

Listed entities should disclose counterparties’ controllers and beneficial owners in corporate transactions. Asset managers should maintain effective controls to detect dubious arrangements or transactions.

Enforcement

SFC Bans Former Deutsche Securities RO for Life

By Editors | 18/11/2019

For ban follows a February 2018 conviction, where the former responsible officer was sentenced to 45 months’ imprisonment and ordered to pay HK$6.4mn to Deutsche Bank AG in restitution.

Enforcement

UBS Fined in Singapore for Pricing Deception by Advisers

By Editors | 18/11/2019

The MAS penalty follows similar action taken against UBS by the Hong Kong SFC to penalise the bank and demand compensation for clients that were overcharged over a ten-year period.