Securities and Futures Commission

Securities / Derivatives

SFC Sets Out Expectations on Complaints Handling Processes

By Editors | 01/04/2022

LCs should set a 7-day timeline for acknowledging receipt of complaints and a 2-month timeline for providing a final response to the complainant.

ESG / Sustainability

Hong Kong to Develop VCM, Unify GBA Carbon Market

By Manesh Samtani | 31/03/2022

Hong Kong’s VCM will target local, Mainland and overseas buyers of carbon credits. Authorities will also work to establish a unified carbon market for the GBA.

Securities / Derivatives

HKMA Updates Trade Reporting Specifications for OTC Derivatives

By Editors | 30/03/2022

A revised Administration and Interface Development Guide will take effect from 19 December 2022, taking into account pandemic-related operational challenges.

Enforcement

SFC Bans BNP Representative for Unauthorised Discretionary Trading

By Editors | 29/03/2022

The relationship manager asked clients to pre-sign blank instruction forms so he could place trades for their accounts without having to inform them in advance.

AML / KYC

SFC Sets Out Expectations on Managing BEC Risk

By Manesh Samtani | 24/03/2022

Most successful business email compromise frauds occurred because LCs did not check or verify the identities of email senders or they ignored red flags.

Market Infrastructure

SFC Seeks to Allow Broker Participation in GBA Wealth Connect

By Sanday Chongo Kabange | 18/03/2022

A hurdle that still needs to be overcome is that Hong Kong brokerages are currently prohibited from distribution and soliciting clients in mainland China.

AML / KYC

SFC Fines Emperor Securities, Emperor Futures for AML Breaches

By Editors | 17/03/2022

Emperor processed third party fund transfers without validating the relationships between the clients and the third parties, or the reason for the transfers.

ESG / Sustainability

IOSCO Seeks to Build Trust in Sustainability Reporting

By ESG Investor | 15/03/2022

IOSCO’s 2022 work plan for sustainable finance focuses on assurance, carbon markets and reporting standards.

HKMA Seeks to Reassure Bankers Over Covid Restrictions

By Editors | 07/03/2022

Concerns are mounting over closed schools and bars, banned flights, and a plan to launch a mass testing programme that may be coupled with a citywide lockdown.