Securities and Futures Commission

AML / KYC

SFC, HKMA Offer Clarity on Product Disclosure, Suitability Obligations

By Manesh Samtani | 29/12/2020

The SFC and HKMA say firms may adopt a risk-based approach to streamline the provision of product disclosures for sophisticated or experienced investors.

AML / KYC

SFC to Require OFCs to Appoint Responsible Person for AML

By Editors | 23/12/2020

The requirement replaces an earlier proposal for OFCs to maintain a significant controllers register, which was deemed too operationally burdensome.

Enforcement

SFC Fines Fulbright Securities Over Short Selling Controls

By Editors | 23/12/2020

Fulbright Securities failed to detect and prevent illegal short selling failures in at least 93 instances over a period of at least six months.

SFC Unveils New Electronic Licensing Functions On WINGS

By Editors | 21/12/2020

The new online licensing platform marks an important milestone in the modernisation of the SFC’s gatekeeping function, said chief executive Ashley Alder.

AML / KYC

Intermediaries Should Lay Down Anti-bribery Policies: SFC

By Editors | 21/12/2020

Intermediaries should draw reference from the sample code of conduct issued by the ICAC and provide appropriate training to directors, staff members and agents.

Securities / Derivatives

SFC Consults on Amendments to Code on Pooled Retirement Funds

By Editors | 20/12/2020

Given the wide participation in Hong Kong by employers and employees in ORSO schemes which invest in PRFs, appropriate investor protection should apply.

ESG / Sustainability

Hong Kong Launches Strategic Plan for Greener Financial Ecosystem

By Manesh Samtani | 17/12/2020

A cross-agency steering group has announced a green and sustainable finance strategy for Hong Kong and five key action points.

Crypto / Digital Assets

SFC Issues First Licence to Digital Asset Trading Platform

By Editors | 16/12/2020

The licences permit OSL Digital Securities to operate regulated brokerage and automated trading services for digital assets.

Fintech / Regtech

Improving Operational Resilience: A Priority for the Year Ahead

By David LaFalce | 14/12/2020

DTCC’s David LaFalce highlights the need for firms to remove manual processes, re-evaluate their interconnectedness, and seek out opportunities for industry collaboration.