The Securities and Futures Commission (SFC) has revoked the licences of Goodcape Securities Limited and its two responsible officers, Mr Tang Lin Sun and Mr Chang Siu Ming. Tang and Chang have also been prohibited from re-entering the industry for life and three years from 15 December 2016 to 14 December 2019 respectively. The disciplinary…
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The Securities and Futures Commission (SFC) today publicly criticised Southwest Securities International Investment Limited (SSI Investment), Li Zhi Tao and Dong Jiang Wen for acquiring shares in Southwest Securities International Securities Limited (SSI Securities) within six months after the close of an offer at above the offer price in breach of Rule 31.3 of the…
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The Securities and Futures Commission (SFC) welcomes the appointment by the Financial Secretary of Mr Edward Cheng Wai-Sun as a Non-Executive Director for a term of two years with effect from 1 January 2017. SFC’s chairman, Mr Carlson Tong, said: I would like to extend a warm welcome to Mr Cheng who brings with him…
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The Securities and Futures Commission (SFC) and The Stock Exchange of Hong Kong Limited, a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX), are closely monitoring rights issues and open offers that substantially dilute the interests of non-subscribing minority shareholders (highly dilutive offers). The SFC and the Exchange are concerned that in some…
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The Securities and Futures Commission (SFC) today released a new Survey on the Sale of Non-exchange Traded Investment Products based on responses to a questionnaire sent to 1,611 licensed corporations. The SFC conducted this survey with an aim to understand the industry landscape and to obtain an overview of the types and value of investment…
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The Securities and Futures Commission (SFC) today published its Quarterly Report summarising key developments from July to September 2016. Highlights of the quarter include the August joint announcement by the SFC and the China Securities Regulatory Commission of the in-principle approval for Shenzhen-Hong Kong Stock Connect, and the launch of a consultation on enhancements to…
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The Securities and Futures Commission (SFC) has commenced proceedings in the Market Misconduct Tribunal (MMT) against Mr Augustine Cheong Kai Tjieh, a former senior executive of an affiliate of Titan Petrochemicals Group Limited, and his mother Ms Gan Ser Soon, for alleged insider dealing in Titan shares in 2012. The SFC alleges that Cheong and…
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The Securities and Futures Commission (SFC) and the Swiss Financial Market Supervisory Authority (FINMA) have signed a Memorandum of Understanding on Switzerland-Hong Kong Mutual Recognition of Funds and Asset Managers (MoU), which will allow eligible Swiss and Hong Kong public funds to be distributed in each other’s market through a streamlined vetting process. The MoU…
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The Securities and Futures Commission (SFC) has just announced that with effect from 1 February 2017, all individual applicants and licensees will be required to submit their licensing applications, notifications and annual returns via the SFC Online Portal, with the view of improving the efficiency of processing licensing-related matters. This will not apply to corporate…
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The Securities and Futures Commission (SFC) has launched a three-month consultation on proposals to enhance the regulation of the asset management industry in Hong Kong to better protect investors’ interests and ensure market integrity. The SFC formulated the proposals following a review of the major international regulatory developments, and taking into account observations and views…
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