Aggregated News From Investment Management Regulators

Hong Kong

Thirteen people charged following SFC and Police joint operation against ramp-and-dump syndicate

Thirteen suspects were charged with various criminal offences following an earlier joint operation of the Securities and Futures Commission (SFC) and the Police against a sophisticated ramp-and-dump syndicate (Note 1).

SFC welcomes appointment of Executive Directors

The Securities and Futures Commission (SFC) welcomes the appointment by the Financial Secretary of Mr Christopher Wilson as Executive Director of Enforcement and Mr Michael Duignan as Executive Director of Corporate Finance, both for a term of three years effective from 1 November 2022 (Note 1).

SFAT affirms SFC decision to suspend hedge fund manager Christopher James Aarons

The Securities and Futures Commission (SFC) has suspended Mr Christopher James Aarons, responsible officer (RO) and chief executive officer of Trafalgar Capital Management (HK) Ltd. (Trafalgar), for two years from 27 September 2022 to 26 September 2024 after the Securities and Futures Appeals Tribunal (SFAT) upheld the SFC’s disciplinary action against him for breaches of the SFC’s Code of Conduct (Notes 1 & 2).

Court dismisses challenge to SFC’s power of issuing restriction notices

The Court of First Instance has dismissed a judicial review application against the Securities and Futures Commission (SFC) relating to restriction notices issued in an ongoing investigation into a suspected “ramp-and-dump” scheme (Notes 1 & 2).

SFC-HKMA’s joint product survey shows increasing participation of intermediaries and investors

The Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) today released the findings of their 2021 joint survey on the Sale of Non-exchange Traded Investment Products by licensed corporations (LCs) and registered institutions (RIs) (Note 1).

Court sets pre-trial review date for unlicensed activities prosecution

The Eastern Magistrates’ Court today fixed the pre-trial review date for prosecutions against Mr Tony Choi Yick Man and Mr Ma Yau Tim after they pleaded not guilty to charges by the Securities and Futures Commission (SFC) for unlicensed activities.

Takeovers Panel rules on the price for the mandatory general offer for Suncity Group Holdings Limited

The Takeovers and Mergers Panel has ruled that the appropriate price for the general offer for Suncity Group Holdings Limited (Note 1) by Major Success Group Limited should be HK$0.0690 per Suncity share. This figure represents the total consideration paid by Major Success to Champion Trade Group Limited for the acquisition of Suncity’s controlling stake and other security assets, divided by the total number of Suncity shares acquired by Major Success.

New speech by Julia Leung: Keynote speech at AIMA APAC Annual Forum 2022

A keynote speech entitled “Regulatory perspectives on Hong Kong as the largest Asian hedge fund hub” delivered by Ms Julia Leung at the AIMA APAC Annual Forum 2022 was posted on the SFC website.

SFC suspends Tang Kai Shing for eight months

The Securities and Futures Commission (SFC) has suspended Mr Tang Kai Shing, responsible officer (RO) and managing director of Rifa Futures Limited (Rifa), for eight months from 2 September 2022 to 1 May 2023 (Note 1).

SFC welcomes Central Government’s support to enhance Hong Kong’s IFC status

The Securities and Futures Commission (SFC) welcomes the support of the Central Government and initiatives announced by the China Securities Regulatory Commission (CSRC) to broaden Stock Connect and further enhance Hong Kong's position as an offshore Renminbi (RMB) centre and a risk management centre.

SFC’s review shows increasing popularity of online investment services

The Securities and Futures Commission (SFC) today released the observations and findings from its review of licensed firms providing online brokerage, distribution and advisory services. It also reminded firms of the regulatory standards applicable to them when providing these services.

Takeovers Panel rules a special waiver from the general offer obligation may be granted to Broad Gongga for an involuntary disposal that leads to...

The Takeovers and Mergers Panel has ruled that a special waiver from the general offer obligation under the Takeovers Code (Note 1) may be granted to Broad Gongga Investment Pte. Ltd. as a result of foreclosure sales by third-party creditors of Jinke Property Group Company Limited of its interest in Jinke Smart Services Group Co. Ltd. which would lead to Broad Gongga holding more Jinke Smart Services shares than Jinke Property (ie, a seller-forced disposal).

Regulator Information

Abbreviation: SFC
Jurisdiction: Hong Kong

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