Insights

SFC’s new initiative to warn against unauthorised investment schemes

SFC’s new initiative to warn against unauthorised investment schemes 1400 935 Charing
The Securities and Futures Commission (the “SFC”) launched a new initiative to warn the public against unauthorised investment arrangements which are suspected to be collective investment schemes (“CIS”).

Time is of the essence – Maximising your chance of recovering money from cybercrime in Hong Kong

Time is of the essence – Maximising your chance of recovering money from cybercrime in Hong Kong 150 150 Charing
If you find yourself an unfortunate victim of an investment scam, it is crucial to prioritize your subsequent action to maximise your chance of recovering money from cybercrime.

SFC’s Circular to licensed corporations – Operation of Bank Accounts

SFC’s Circular to licensed corporations – Operation of Bank Accounts 1401 788 Charing
The Securities and Futures Commission (“SFC”) issued a circular to licensed corporations (“LC”) on 28 June 2021 warning against unsatisfactory practices in the operation of bank accounts of LCs (the “Circular”). 

The Securities and Futures Commission warns unregulated virtual asset platforms

The Securities and Futures Commission warns unregulated virtual asset platforms 1400 788 Hugo
The Securities and Futures Commission warns unregulated virtual asset platforms

Bills for re-domiciliation of foreign investment funds gazetted

Bills for re-domiciliation of foreign investment funds gazetted 1400 788 Charing
On 2 July 2021, the Government gazetted the Securities and Futures (Amendment) Bill 2021 and the Limited Partnership Fund and Business Registration Legislation (Amendment) Bill 2021  (collectively, the “Bills”).  The Bills sets out the respectively scheme for foreign investment funds to be re-domiciled and registered in Hong Kong as open-ended fund companies (“OFC”) or limited partnership funds (“LPFs”).

Court of Appeal grants SFC compensation orders against former directors of EganaGoldpfeil

Court of Appeal grants SFC compensation orders against former directors of EganaGoldpfeil 1400 788 Hugo
Court of Appeal grants the Securities and Futures Commission $622 million compensation orders against former directors of EganaGoldpfeil (Holdings) Ltd.

SFC suspends a Responsible Officer of GEO Securities Ltd

SFC suspends a Responsible Officer of GEO Securities Ltd 1400 788 Hugo
The Hong Kong Securities and Futures Commission suspends a Responsible Officer of GEO for breach of licensing conditions.

The Court of First Instance orders boiler room fraudsters to compensate investors

The Court of First Instance orders boiler room fraudsters to compensate investors 1400 788 Hugo
Boiler room fraudsters ordered to compensate investors after finding that none of the investments in securities / futures products agreed were ever executed.

FSTB Concludes Landmark Consultation on New Licensing Regime for Virtual Assets Services Providers

FSTB Concludes Landmark Consultation on New Licensing Regime for Virtual Assets Services Providers 1400 788 Basil Hwang

After a three-month consultation (see our previous news update here) on the legislative proposal to introduce a new licensing regime for virtual asset services providers (“VASPs”) with an objective of…

The Securities and Futures Commission (the “SFC”) reprimanded and fined Ewarton Securities Limited

The Securities and Futures Commission (the “SFC”) reprimanded and fined Ewarton Securities Limited 1400 788 Hugo
The Securities and Futures Commission reprimanded and fined Ewarton Securities Limited for internal control failings and breaches of the SFC’s Code of Conduct.
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