sfc

10Jan2020

PE Firms and Family Offices on the SFC Radar: An Update on SFC Licensing in Hong Kong

The Securities and Futures Commission in Hong Kong (SFC) actively engaged with the private equity sector in 2019. The purpose was to highlight securities licensing requirements that affect private equity (PE) fund managers and family offices in Hong Kong. On 7 January 2020, the SFC…Read More

17Dec2018

Legal update: SFC and CSRC signs Memorandum to Enhance Cooperation and Exchange of Information

The Securities and Futures Commission (“SFC”) has announced on 3 December 2018 that it has entered into a memorandum of understanding (“MoU”) with the China Securities Regulatory Commission (“CSRC”), regarding the cooperation and exchange of information in connection with the supervision and oversight of regulated…Read More

12Dec2018

Legal update: SFC reprimands and fines SFM HK Management Limited HK$1.5 million over illegal short selling

Case Background The Securities and Futures Commission announced on 6 December 2018 that it has reprimanded and fined SFM HK Management Limited (“SFM”) for HK$1.5 million for its naked short selling, contrary to section 170 of the Securities and Futures Ordinance (“SFO”). SFM is licensed…Read More

22Aug2018

Legal update: The New Open-Ended Fund Company Regime in Hong Kong

Introduction On 30 July 2018, the new Open-Ended Fund Company (“OFC”) regime came into operation which introduced the OFC as a new form of corporate vehicle in Hong Kong. The legal framework of this new OFC regime consists of the three main pieces of legislation:…Read More

06Jun2018

Legal update: Ten myths about token sale regulation in Hong Kong

No part of the tech universe has a greater abundance of myths than the crypto space, and no part of the crypto space has a deeper black hole of urban legends than the weird and wonderful world of token sales. Here are some of the…Read More

05Feb2018

Edmond Leung speaks at TTN Conference 2018

Partner Edmond Leung spoke at the Transnational Taxation Network’s Tax Conference, held today 5 February at The Park Lane Hotel in Causeway Bay. Edmond’s talk covered many important aspects of SFC Licensing, the Securities and Futures Ordinance and important considerations when selecting and appointing Managers-in-Charge (MICs)….Read More

24Jan2018

Legal update: SFC bans former Investment Counsellor for taking confidential client lists

The Securities and Futures Commission (“SFC”) announced on 22 January 2018 that under section 196(1)(iii) of the Securities and Futures Ordinance (“SFO”) it has banned former DBS Bank employee Mr Chan Wai-Nun from re-entering the industry for a period of 6 months, on the grounds…Read More

18Oct2017

SFC announces full roll-out of Manager-In-Charge regime

In January this year, we wrote about upcoming changes to the Manager-In-Charge Regime. It was announced then that Managers-In-Charge (MIC) of eight core functions should have applied for approval to become Responsible Officers (ROs) by 16 October 2017. In addition, licensed corporations and corporate licence…Read More

12Jan2017

Legal update: Manager In Charge Regime – ComplianceAsia

This is a Client Alert from ComplianceAsia. For employment and regulatory related legal enquiries please contact Russell Bennett. Introduction In January 2017, the SFC released a circular on clarifications to its current regime on senior management, expectations as to Board obligations of licensed firms and…Read More