Financial Regulation

New MOU to enhance fintech regulation in GBA

New MOU to enhance fintech regulation in GBA 1400 788 Kelly
This new network link-up creates a one-stop platform for firms to conduct pilot trials of cross-boundary fintech initiatives in HK and GBA cities concurrently.

SFC’s Revised Guidelines on Competence effective 1 January 2022

SFC’s Revised Guidelines on Competence effective 1 January 2022 1401 788 Charing
Following the Securities and Futures Commission’s (“SFC”) publication of the Consultation Conclusions on Proposed Enhancements to the Competency Framework for Intermediaries and Individual Practitioners on 18 June 2021, the proposed enhancements will be reflected in the revised Guidelines on Competence (“Competence Guidelines”) and the revised Guidelines on Continuous Professional Training (“CPT Guidelines”), both of which will become effective on 1 January 2022.  In this two-part series, we will focus on the key changes under the Competence Guidelines for Responsible Officers and Licensed Representatives.

Record keeping in the cloud: As an old law falls to a modern reality, do SFC licensees risk repercussions?

Record keeping in the cloud: As an old law falls to a modern reality, do SFC licensees risk repercussions? 150 150 Greg Heaton
Are your company records stored in the cloud? Licensees in Hong Kong beware you are likely breaching the Securities and Futures Ordinance.

SFC’s new initiative to warn against unauthorised investment schemes

SFC’s new initiative to warn against unauthorised investment schemes 1401 788 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”).

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”). 

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

Court of Appeal grants SFC compensation orders against former directors of EganaGoldpfeil 1401 786 Hauzen
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 Hauzen
The Hong Kong Securities and Futures Commission suspends a Responsible Officer of GEO for breach of licensing conditions.

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 Hauzen
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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