Securities and Futures Commission

Securities / Derivatives

SFC Raises Standards for Data Submissions by Brokers

By Manesh Samtani | 01/08/2019

In-scope brokers are expected to implement system changes and make other arrangements needed for compliance with the new Data Standards by end-October 2020.

Securities / Derivatives

Twenty Suspended Firms Face Permanent Delisting in Hong Kong

By Editors | 30/07/2019

Of the 22 firms that were already suspended last August when new rules took effect, only two have so far been given the green light for their shares to resume trading.

Securities / Derivatives

Hong Kong Cracks Down on Backdoor Listings, Shell Activities

By Editors | 28/07/2019

Effective from 1 October, new rules from HKEX will prohibit large disposals of businesses or assets by listed companies for three years following a change in control.

Enforcement

Hong Kong ICAC Charges Five More Individuals in Convoy Case

By Editors | 23/07/2019

Six individuals are now charged with conspiracy to defraud the Hong Kong stock exchange and the board of directors, shareholders and investors of Convoy.

Enforcement

S. Korea Forms Special Unit to Investigate Unfair Trading

By Editors | 18/07/2019

The squad comprises 16 special judicial police officers, one FSC public official and 15 FSS employees, tasked with handling unfair trading cases under the command of Seoul prosecutors.

Enforcement

SFC Fines Hong Kong Brokerage for Ineffective Short Selling Controls

By Editors | 16/07/2019

Glory Sun Securities has been fined HK$1.2m for failing to ensure compliance with short selling requirements. Two responsible officers and an account executive have also been suspended.

Enforcement

SFC Fines Celestial Commodities for Mishandling Client Money

By Editors | 10/07/2019

Celestial Commodities Limited may have been using client money to pay commission rebates for up to 20 years for the sake of operational convenience.

Securities / Derivatives

SFC Strengthens Protections for Client Assets Held by AIs

By Editors | 09/07/2019

Intermediaries and AIs must sign an acknowledgement letter making clear that assets held in designated client asset accounts are protected from recourse.

Enforcement

SFC Warns Against Misconduct Involving Acquisitions, Disposals

By Editors | 06/07/2019

Directors of listed companies have a duty to exercise due and reasonable care, skill and diligence when evaluating or approving the acquisition or disposal of a company or business.