The Hong Kong Securities and Futures Commission (SFC) has announced the implementation of the new open-ended fund companies (OFC) regime with effect from 30 July 2018. This will enable investment funds to be established in corporate form in Hong Kong, in addition to the current unit trust form. The Code on Open-ended Fund Companies and…
Read more
The Eastern Magistrates’ Court has informed the public that it has found Mr Wong Hung not guilty of illegal short selling. The Hong Kong Securities and Futures Commission (SFC) alleged that, on 20 occasions between 6 and 20 January 2012, Wong sold shares of five stocks through his securities account at Hung Sing Securities Limited,…
Read more
The Hong Kong Securities and Futures Commission (SFC) has released the findings of its annual Asset and Wealth Management Activities Survey, previously known as the Fund Management Activities Survey, which shows that the asset and wealth management business in Hong Kong amounted to $24,270 billion (US$ 3,108 billion) as at 31 December 2017. To provide…
Read more
The Hong Kong Securities and Futures Commission (SFC) has announced that it has welcomed the appointment by the Financial Secretary of Mr James C Lin and the re-appointment of Dr William Wong Ming-fung, SC as Non-Executive Directors for a term of two years with effect from 1 August 2018. Dr Wong was first appointed as…
Read more
The Hong Kong Securities and Futures Commission (SFC) announced that amendments to the Securities and Futures (Professional Investor) Rules (PI Rules) have come into operation today. The categories of professional investors have been expanded to include holding companies which wholly own another corporation which is itself a qualified professional investor. Directors of holding companies should…
Read more
The Hong Kong Securities and Futures Commission (SFC) has launched a consultation on proposals to amend the Guideline on Anti-Money Laundering and Counter-Terrorist Financing to keep it in line with international anti-money laundering and counter-financing of terrorism (AML/CFT) standards and make it more useful and relevant. The proposed amendments expand the types of politically exposed…
Read moreThe Hong Kong Securities and Futures Commission (SFC) has shared its support of the proposals in the Stock Exchange of Hong Kong Limited’s (Exchange) consultation paper published today relating to backdoor listings and shell activities. These proposals are part of a series of initiatives to address concerns about problematic corporate and market conduct and represent…
Read moreThe Hong Kong Securities and Futures Commission (SFC) has today launched a two-month consultation on proposals to impose margin requirements for non-centrally cleared over-the-counter (OTC) derivatives. Under the proposals, a licensed corporation which is a contracting party to a non-centrally cleared OTC derivative transaction entered into with an authorised institution, a licensed corporation or another…
Read moreThe China Banking and Insurance Regulatory Commission (CBIRC) and the Hong Kong Securities and Futures Commission (SFC) have announced that they have entered into a Memorandum of Understanding (MoU). The MoU is regarding the cooperation and exchange of information in connection with the supervision and oversight of regulated entities of the CBIRC or the SFC…
Read moreThe Hong Kong Securities and Futures Commission (SFC) announced that it has publicly censured and imposed a 24-month cold-shoulder order against Chan Shing for breaching the mandatory general offer obligation of the Takeovers Code. Chan was the chairman and managing director of Burwill Holdings Limited at the time the breach took place. He and his…
Read more