The Securities and Futures Commission (SFC) has reprimanded and fined FXCM Asia Limited (HK FXCM) (now known as Rakuten Securities Hong Kong Limited) HK$4 million for regulatory breaches in relation to its order execution practice for foreign exchange (Forex) trading. An SFC investigation found that from December 2006 to December 2010, HK FXCM and its…
Read moreThe Securities and Futures Commission (SFC) has launched a review to assess the cybersecurity preparedness, compliance and resilience of brokers’ internet and mobile trading systems. The review followed a number of reports from securities brokers that the security of some customers’ internet and mobile trading accounts has been compromised and unauthorized securities trading transactions were…
Read moreThe Securities and Futures Commission (SFC) has suspended Mr Lo Tsz On for one year from 12 October 2016 to 11 October 2017 following his conviction for fraud. The Magistrates’ Court found that Lo fraudulently presented three false entertainment claim forms to his then employer, Core Pacific-Yamaichi International (H.K.) Limited (CPY), in which he overstated…
Read moreThe Securities and Futures Commission (SFC) has banned Ms Chen Chia Hui, a former employee of The Hongkong and Shanghai Banking Corporation Limited (HSBC), from re-entering the industry for life following her conviction for bribery. The District Court found that Chen, a relationship manager of HSBC at the material time, accepted a secret commission in…
Read moreThe Securities and Futures Commission (SFC) reminds all relevant market participants that with effect on 15 March 2017, reporting will be required for reportable short positions in all Designated Securities eligible for short selling specified by The Stock Exchange of Hong Kong Limited. Market participants are further reminded to ensure that they have systems and…
Read moreHong Kong's Securities and Futures Commission’s (SFC) Enforcement Division announced they are investigating a number of cases of SFC licensed brokerages with suspected inadequate anti-money laundering (AML) internal controls and it expects to bring a number of enforcement proceedings as a result. The SFC wants to draw the attention of licensees that they are expected…
Read moreThe Securities and Futures Commission (SFC) has reprimanded and fined The Hongkong and Shanghai Banking Corporation Limited (HSBC) $2.5 million for regulatory breaches and internal control failings related to position limit failures. The disciplinary action follows an SFC investigation into the holding by HSBC of open positions in Hang Seng China Enterprises Index futures and…
Read moreHong Kong’s financial regulator the Securities and Futures Commission (SFC) has updated its Alert List, which features the names of businesses that are unlicensed in Hong Kong and are believed to be, or to have been, targeting Hong Kong investors or claim to have an association with Hong Kong. Added to the SFC Alert List…
Read moreHong Kong’s financial regulator the Securities and Futures Commission (SFC) has updated its Alert List, which features the names of businesses that are unlicensed in Hong Kong and are believed to be, or to have been, targeting Hong Kong investors or claim to have an association with Hong Kong. Added to the SFC Alert List…
Read moreFollowing today's joint announcement by the China Securities Regulatory Commission (CSRC) and Hong Kong's Securities and Futures Commission (SFC), Hong Kong Exchanges and Clearing Limited (HKEX) will work with the Shenzhen Stock Exchange (SZSE), the Shanghai Stock Exchange (SSE), the China Securities Depository and Clearing Corporation Limited (ChinaClear) and other relevant parties to establish mutual…
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