The Securities and Futures Commission (SFC) of Hong Kong today announces that it has temporarily banned from the industry Mr Jia Zhen over violations of the SFC’s Code of Conduct. He is banned from re-entering the securities and futures industry for 10 months - from February 20, 2016 to December 19, 2016. Mr Jia Zhen…
Read moreThe Securities and Futures Commission (SFC) of Hong Kong has earlier today updated its Alert List of unlicensed companies, with the latest additions including a set of clone websites of investment giant BlackRock, Inc. (NYSE:BLK). The Hong Kong regulator notes that a company presenting itself as Blackrock Financial Co Ltd is misusing the details of…
Read moreThe Hong Kong Securities and Futures Commission (SFC) today announced that it has suspended Fabiano Hugues Joseph Mascolo, a former employee of BTIG Hong Kong Limited, for three months over breaches of the firm's internal policies and violations of the Code of Conduct. The suspension is valid from December 21, 2015 to March 20, 2016.…
Read moreHong Kong's Securities and Futures Commission (SFC) has earlier today updated its Alert List of unlicensed investment companies, with the latest addition being Hong Kong Goldman Sachs Financial Investment Ltd, a company which is misusing the name of international financial services giant Goldman Sachs Group Inc (NYSE:GS). The case exemplifies the practice of business cloning,…
Read moreHong Kong's Securities and Futures Commission (SFC) today announced disciplinary action against J.P. Morgan Broking (Hong Kong) Limited (JPMBHK), J.P. Morgan Securities (Asia Pacific) Limited (JPMSAP) and J.P. Morgan Securities (Far East) Limited (JPMSFE) (collectively “JP Morgan”) for various regulatory breaches and/or internal control failings. All of the three entities were reprimanded and got fines…
Read moreHong Kong's Securities and Futures Commission (SFC) is implementing changes to the Code of Conduct for companies it regulates, with the changes to affect Forex brokers too. The new rules will oblige companies to insert an additional clause in client agreements. This clause will allow investors to claim damages if the intermediary is selling or…
Read moreHong Kong's Securities and Futures Commission (SFC) has just published its report for the quarter from July to September 2015, with the data pointing to continued interest of investment companies in obtaining licenses from the Hong Kong watchdog. In the three months to September 30, 2015, the SFC received 2,416 licence applications, a number which…
Read moreHong Kong's Securities and Futures Commission (SFC) has updated its Alert List, with the latest additions including Forex brokerage IQSFX. The company, offering its services via www.iqsfx.com, provides an address in Hong Kong, which is incomplete, the watchdog says. Furthermore, the name of the company resembles that of IQS Financial Limited, a business entity which…
Read moreThe European Securities and Markets Authority (ESMA) and Hong Kong's Securities and Futures Commission (SFC) today announce that they have concluded a Memorandum of Understanding (MoU) which will enable the exchange of information on derivative contracts held in trade repositories. The agreement allows ESMA and SFC to have indirect access to trade repositories established in…
Read moreHong Kong's Securities and Futures Commission (SFC) today announced the re-appointment of Ms Mary Ma Xuezheng as a non-executive director of the regulator. Ms Ma was first appointed as a non-executive director of the SFC on November 15, 2013, and her current term is due to expire on November 14, 2015. In addition, the SFC…
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