China Merchants Securities (HK) Co. Limited fined $5 million for mishandling client money LeapRate

May 30, 2019 BY Valentina Kirilova

China Merchants Securities (HK) Co. Limited fined $5 million for mishandling client money

The Hong Kong Securities and Futures Commission (SFC) informed that it has reprimanded China Merchants Securities (HK) Co., Limited (China Merchants). The regulator has also fined the company $5 million for regulatory breaches and internal control failings related to mishandling of client money. 800 incidents happened between 1 October 2011 to 30 September 2014, where…

April 22, 2019 BY Valentina Kirilova

Nine Masts Capital Limited fined $1.2m over naked short selling

The Hong Kong Securities and Futures Commission (SFC) announced that it has fined the company Nine Masts Capital Limited $1.2 million for failures relating to the short selling of Yuzhou Properties Company Limited shares in May 2015. Back then, on May 12, 2015, Yuzhou Properties proposed placing of new shares, subject to the fulfilment of…

February 22, 2019 BY Valentina Kirilova

Hong Kong SFC updates listing rules protecting investors

The Hong Kong Securities and Futures Commission (SFC) released the current issue of its SFC Regulatory Bulletin: Listed Corporations, which included an update on how it will execute its authority as stipulated in the Securities and Futures (Stock Market Listing) Rules to protect investors. The dispatch outlined some of the recent steps taken by the…

February 04, 2019 BY Valentina Kirilova

W. Falcon Asset Management (Asia) Ltd’s license revoked by the Hong Kong SFC

The Hong Kong Securities and Futures Commission (SFC) has just announced that it has revoked the license of W. Falcon Asset Management (Asia) Limited (Falcon) for several different types of failures. The regulator has already issued a Restriction Notice on Falcon to safeguard the assets of the firm and its clients, and to protect the…

December 27, 2018 BY Valentina Kirilova

Hong Kong SFC fines Ardon Maroon Fund Management $800,000

The Hong Kong Securities and Futures Commission (SFC) has informed the public that it has fined Ardon Maroon Fund Management (Hong Kong) Limited (Ardon Maroon) (now known as China Silver Asset Management (Hong Kong) Limited) $800,000 for cross-trade related failures in managing the Ardon Maroon Asia Master Fund (AM Fund). The complete announcement can be…

November 01, 2018 BY Valentina Kirilova

SFC sets out new regulatory approach for virtual assets

The Hong Kong Securities and Futures Commission (SFC) has issued a statement setting out a new approach which aims to bring virtual asset portfolio managers and distributors of virtual asset funds under its regulatory net. It also sets out a conceptual framework for the potential regulation of virtual asset trading platforms. In light of the…

LeapRate interview: Defense against toxic flow, Jeff Wilkins speaks

October 19, 2018 BY Valentina Kirilova

SFC concludes further consultation on the financial resources rules

The Hong Kong Securities and Futures Commission (SFC) has released conclusions to the further consultation on proposed amendments to update the Securities and Futures (Financial Resources) Rules (FRR). After considering the comments received, the SFC will implement the proposed changes, the main purpose of which is to update the computation basis of the financial resources…

Paxos teams up with bitcoin payment service BitPay

October 08, 2018 BY Valentina Kirilova

FCA and SFC sign MoU on UK-Hong Kong mutual recognition of funds

The Financial Conduct Authority (FCA) and the Hong Kong Securities and Futures Commission (SFC) have entered into a Memorandum of Understanding on Mutual Recognition of Funds (MoU), which will allow eligible Hong Kong public funds and United Kingdom retail funds to be distributed in each other’s market through a streamlined process. The MoU also establishes…

October 08, 2018 BY Valentina Kirilova

SFC bans a former employee of Bank of China for life

The Hong Kong Securities and Futures Commission (SFC) has announced that it has banned Ms Lok Wai Fong, a former employee of Bank of China (Hong Kong) Limited (Bank), from re-entering the industry for life. The disciplinary action follows an SFC investigation which found that from April 2009 to January 2012, Lok transferred a sum…

September 21, 2018 BY Valentina Kirilova

Hong Kong SFC announces green finance strategic framework

The Hong Kong Securities and Futures Commission (SFC) has announced its strategic framework to contribute to the development of green finance in Hong Kong. A priority will be to enhance listed companies' consistent and comparable disclosure of environmental information, with an emphasis on climate-related risks and opportunities. The SFC will also work on ways in…

Tag: Hong Kong Securities and Futures Commission