Market Misconduct

This overview considers legislation, powers and duties of enforcement agencies, steps that institutions and corporations must take to comply and protect themselves.
Overview

Hong Kong combats financial crime through various statutes – from the general criminal statute sanctioning traditional white collar crimes of theft and fraud to the complex and detailed requirements placed on financial institutions to curb misconduct in the securities market as well as money laundering and terrorist financing. This overview will consider the legislation, the powers and duties of enforcement agencies and the steps that institutions and corporations must take to comply, as well as to protect themselves from cyber threats, data breaches and handling investigations.

Market Misconduct Regulations

Market Manipulation

Insider Dealing

Short Selling

Visit our Short Selling Insight for details

SFC Bans Mr. Poon Chun Hing From Re-entering Industry for Life 1400 788 Hauzen

SFC Bans Mr. Poon Chun Hing From Re-entering Industry for Life

Readers are reminded to be alert if approached with securities & futures investments or dealing with anyone claiming they are licensed / registered in Hong Kong

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Insurance Authority Reprimands & Fines Insurer for Contraventions of AML & CTF Ordinances 1400 788 Hauzen

Insurance Authority Reprimands & Fines Insurer for Contraventions of AML & CTF Ordinances

MetLife (now FWD Life) & Metropolitan Life Insurance (now FWD Life Assurance) fined HK$7 million. It is clear that the IA takes these failures very seriously.

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SFC’s Circular to licensed corporations – Operation of Bank Accounts 1401 788 Hauzen

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

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”). 

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SFC warns unregulated virtual asset platforms 1400 787 Hauzen

SFC warns unregulated virtual asset platforms

The Securities and Futures Commission warns unregulated virtual asset platforms

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Court of Appeal grants SFC compensation orders against former directors of EganaGoldpfeil 1401 786 Hauzen

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

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

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The Court of First Instance orders boiler room fraudsters to compensate investors 150 150 Hauzen

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

Boiler room fraudsters ordered to compensate investors after finding that none of the investments in securities / futures products agreed were ever executed.

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