Securities and Futures Commission

Enforcement

SFC Suspends China Merchants Securities Exec Over Sponsor Work

By Editors | 28/02/2019

The SFC said Wu Yinong breached the Code of Conduct and the Sponsor Guidelines when he was a sponsor principal in charge of supervising the execution of a 2009 listing application.

Market Infrastructure

HKMA Turns Up the Heat, Announces Consultation on IBOR Transition

By Will Hallatt | 22/02/2019

The outcome of the HKMA and TMA consultation will be a turning point for financial services firms preparing for life after LIBOR, says international law firm Herbert Smith Freehills.

Securities / Derivatives

SFC Issues Update on ‘Front Loaded’ Approach to Listing Rules

By Editors | 22/02/2019

The SFC “will not hesitate to intervene at an early stage” when it has serious concerns about IPO applications or post-IPO corporate transactions.

Enforcement

Hong Kong Finance Manager Convicted of Insider Dealing

By Editors | 21/02/2019

A GEM stock finance manager was in possession of inside information related to unaudited losses and an impending share suspension when he and his father sold their shares in the company.

AML / KYC

SFC Fines Guosen Securities $1.94mn for AML Breaches

By Editors | 19/02/2019

The Hong Kong unit of Guosen Securities failed to make enquiries into or report thousands of suspicious third party deposits.

Fintech / Regtech

Global Innovation Sandbox Opens for Cross Border Testing

By Editors | 04/02/2019

The GFIN’s 29 members include the HKMA, SFC, MAS and ASIC. Applications are now open for firms looking to test innovative cross border financial services.

Securities / Derivatives

UPDATED – Hong Kong SFC Revamps Licensing Processes

By Editors | 04/02/2019

The move is aimed at halting “rolling bad apples” in their tracks by requiring firms to provide the SFC with details about employee departures, says Herbert Smith Freehills.

Market Infrastructure

JPM Asset Management Approved to Sell HK Funds in China

By Editors | 30/01/2019

Two of JPMorgan’s Hong Kong funds have been approved for distribution in China under the Mutual Recognition of Funds scheme.

Market Infrastructure

Hong Kong Seeks Market Views on Paperless Securities Market

By Editors | 29/01/2019

Hong Kong is seeking industry feedback on plans to introduce new systems for a paperless securities market to enhance global competitiveness and increase market efficiency.