SFC

Joint Circular: Intermediaries of VA-related Activities

Joint Circular: Intermediaries of VA-related Activities 1400 788 Kelly
The SFC/HKMA joint-circular dated 28 January 2022 covers the provision of VA-related products, VA dealing services and VA advisory services.

Consultation on New Type 13 Regulated Activity

Consultation on New Type 13 Regulated Activity 1400 788 Charing
In Feb 2022, SFC released its Consultation Conclusions on the Proposed Regulatory Regime for Depositaries of SFC-authorised Collective Investment Schemes.

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

SFC Bans Mr. Poon Chun Hing From Re-entering Industry for Life 1400 788 Charing
Readers are reminded to be alert if approached with securities & futures investments or dealing with anyone claiming they are licensed / registered in Hong Kong

Joint Operation by Hong Kong & Singapore Regulators & Police on Cross Border Ramp-and-dump Syndicate

Joint Operation by Hong Kong & Singapore Regulators & Police on Cross Border Ramp-and-dump Syndicate 1400 787 Charing
10 individuals, believed to be key members of the syndicate, including some senior executives of Hong Kong listed companies were arrested.

SFC Reprimands & Fines Fulbright Securities $3.3M, Suspends License of RO

SFC Reprimands & Fines Fulbright Securities $3.3M, Suspends License of RO 1400 788 Charing
Key takeaway is that SFC won’t hesitate to sanction both licensed corporation and licensed person and attribute the misconduct to licensed person.

Court Finds Trio Insider Dealing in TeleEye Shares & Order Disgorgement of Profits

Court Finds Trio Insider Dealing in TeleEye Shares & Order Disgorgement of Profits 1400 788 Charing
We remind the reader that there are serious consequences to insider dealing and for failing to respond to SFC’s enquiries and investigation. 

Publication of Corporate Governance & ESG (Climate Disclosures) Guidance

Publication of Corporate Governance & ESG (Climate Disclosures) Guidance 1400 788 Emma
On 5 November 2021, the Exchange published guidance on climate disclosures and analysis of IPO applicants’ ESG practice disclosure in 2020/2021.

SFC publishes Consultation Conclusion to Code on Pooled Retirement Funds

SFC publishes Consultation Conclusion to Code on Pooled Retirement Funds 1400 788 Hauzen
Amended PRF Code expected to come into force in November 2021. SFC will allow 12-month transitional period key operators to implement.

SFC’s Revised Guidelines on Competence effective on 1 January 2022 – Part II

SFC’s Revised Guidelines on Competence effective on 1 January 2022 – Part II 1401 788 Charing

We return with the second part to our two-part series on the Consultation Conclusions on Proposed Enhancements to the Competency Framework for Intermediaries and Individual Practitioners published on 18 June…

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.
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