Aggregated News From Investment Management Regulators

Hong Kong

New speech by Ashley Alder: Keynote speech at ASIFMA China Capital Markets Conference

A speech entitled “A regulatory perspective on expanding market access” delivered by Mr Ashley Alder at the ASIFMA China Capital Markets Conference was posted on the SFC website.

SFC bans Ho Pak Hay for life

The Securities and Futures Commission (SFC) has banned Mr Ho Pak Hay, a former licensed representative of KGI Asia Limited (KGI) and KGI Futures (Hong Kong) Limited (KGI Futures), from re-entering the industry for life (Note 1).

Court orders Pyramid and Ponzi scheme fraudsters to compensate investors

The Court of First Instance has granted orders sought by the Securities and Futures Commission (SFC) against fraudsters of a global Pyramid and Ponzi scheme to compensate victims following legal proceedings under section 213 of the Securities and Futures Ordinance (SFO) (Notes 1 & 2).

SFC proposes changes to the position limit regime

The Securities and Futures Commission (SFC) today launched a consultation on proposed changes to the position limit regime for listed futures and options contracts (Note 1).

Amendments to the REIT Code in relation to bookbuilding and placing activities

The Securities and Futures Commission (SFC) today issued a circular setting out consequential amendments to the Code on Real Estate Investment Trusts (REIT Code) which dovetail with changes to the Code of Conduct (Note 1) in relation to bookbuilding, pricing, allocation and placing activities (Note 2). The changes are part of regulatory enhancements to clarify the roles of intermediaries and set out the standards expected of them in these activities.

SFC bans Poon Choi Yung for 20 months

The Securities and Futures Commission (SFC) has banned Mr Poon Choi Yung, a former licensed representative of China Tonghai Securities Limited, from re-entering the industry for 20 months from 12 April 2022 to 11 December 2023 for breaches of the SFC’s Code of Conduct (Notes 1 to 4).

SFC publicly criticises Gao Yunhong and Feng Xuelian for breaches of the Takeovers Code

The Securities and Futures Commission (SFC) has publicly criticised Gao Yunhong and Feng Xuelian for breaching the no frustrating action rules under the Takeovers Code (Note 1).

Regulators conclude consultation on new calculation periods and consult on annual update to the list of Financial Services Providers under the OTC derivatives regulatory...

The Hong Kong Monetary Authority (HKMA) and Securities and Futures Commission (SFC) today issued joint consultation conclusions on the addition of new calculation periods under the over-the-counter (OTC) derivatives regulatory regime. Proposed legislative amendments to the Clearing Rules (Note 1) for adding eight calculation periods will be submitted to the Legislative Council for negative vetting. The amended rules are expected to come into effect on 1 March 2023, subject to the legislative process.

The Green and Sustainable Finance Cross-Agency Steering Group welcomes the publication of the International Sustainability Standards Board proposed standards for public consultation

The Green and Sustainable Finance Cross-Agency Steering Group (Steering Group) welcomes today’s publication of the proposed general requirements for disclosure of sustainability-related financial information and the climate disclosure requirements by the International Sustainability Standards Board (ISSB). The ISSB is seeking feedback through a public consultation process and aims to finalise the standards by the end of 2022. The Steering Group would like to encourage the financial sector, listed companies and all interested stakeholders to participate in the ISSB consultation.

Appointments to SFC committees

The Securities and Futures Commission (SFC) is pleased to announce new appointments and reappointments to the following committees with effect from 1 April 2022:

Cross-Agency Steering Group releases assessment of carbon market opportunities for Hong Kong and next steps

The Green and Sustainable Finance Cross-Agency Steering Group (Steering Group) today (30 March) published its preliminary feasibility assessment of carbon market opportunities for Hong Kong (Note 1).

SFC bans Kim Bum Suk for 27 months

The Securities and Futures Commission (SFC) has banned Mr Kim Bum Suk, former relevant individual of BNP Paribas Wealth Management and BNP Paribas (collectively, BNP), from re-entering the industry for 27 months from 29 March 2022 to 28 June 2024 (Note 1).

Regulator Information

Abbreviation: SFC
Jurisdiction: Hong Kong

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