Securities and Futures Commission

Securities / Derivatives

SFC Amendments to REIT Code Have Taken Effect

By Editors | 08/12/2020

The SFC has also adopted a more streamlined approach to compliance with requirements regarding vetting and approval of REIT-issued announcements and circulars.

AML / KYC

SFC Proposes to Introduce HK Investor ID Regime in 2022

By Editors | 06/12/2020

The proposed investor ID regime is expected to be implemented in Q1 of 2022 at the earliest. A separate reporting regime is proposed for OTC securities transactions.

AML / KYC

SFC Directs Senior Managers to Correct AML/CFT Deficiencies

By Editors | 02/12/2020

The SFC found deficiencies in areas including oversight, internal controls, risk assessments, third party deposits, SoW/SoF checks, and sanctions screening, among others.

Enforcement

Former Convoy Executives Found Not Guilty in ‘Enigma Network’ Case

By Editors | 02/12/2020

The judge ruled that the evidence provided by prosecutors was not sufficient to prove there was any attempt to deceive the stock exchange or Convoy directors or investors.

AML / KYC

Lessons from Cryptoassets in the Fight Against Financial Crime

By David Carlisle | 01/12/2020

Elliptic’s David Carlisle and Onchain Custodian’s El Lee discuss opportunities for the banking and cryptoasset industries to learn from one another in the fight against financial crime.

Fintech / Regtech

Lack of Electronic Solutions Hindering Capital Market Access: ASIFMA

By Editors | 30/11/2020

The report calls on government and regulators to facilitate greater use of e-signatures, virtual meetings, and other electronic solutions in Hong Kong and Singapore capital markets.

Securities / Derivatives

SFC Finalises Changes to Grant Greater Flexibility to REIT Managers

By Editors | 29/11/2020

REITs will be allowed to invest in minority-owned properties and property development projects, and borrowing limits will be increased.

Enforcement

SFC Bans Ex Sun Hung Kai Account Exec Over Discretionary Trading

By Editors | 26/11/2020

The former licensed representative effected transactions in two clients’ accounts on a discretionary basis without obtaining prior written authorisations or senior management approval.

Market Infrastructure

Stock Connect Set to Include Pre-profit Biotechs, STAR Market Stocks

By Manesh Samtani | 26/11/2020

In a policy address, Hong Kong chief executive Carrie Lam discussed measures to expand Stock Connect and enhance the city’s integration into the Greater Bay Area.