Regulatory News – CompliancePlus Consulting Limited

Regulatory News (Sep 2018)

October 4, 2018/in Regulatory News /by Tony Chan

SFC announces green finance strategic framework
SFC bans Ngo Wing Chun for 12 months
New speech by Carlson Tong: Speech at HKGCC’s Town Hall Forum Series
New speech by Ashley Alder: Speech at HKIFA luncheon
SFC reprimands and fines Huatai Financial Holdings (Hong Kong) Limited $800,000 over naked short selling
Court of Appeal orders retrial in insider dealing case
SFC welcomes appointment of Chairman
New speech by Julia Leung: Speech at Hong Kong Chinese Enterprises Association Seminar
Court of Final Appeal dismisses Moody’s appeal

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Regulatory News (Aug 2018)

August 15, 2018/in Regulatory News /by Tony Chan

SFC bans Fonia Kwok Lai Kwan for 12 months
Launch of investor identification for northbound trading under Stock Connect
SFC reprimands and fines HPI Forex Limited $2 million for regulatory breaches
SFC consultation addresses risks in securities margin financing
SFC issues quarterly report
Court sets pre-trial date for false or misleading announcement case
SFC bans Cham Nga Yin for life
Market Misconduct Tribunal finds China AU’s former CEO and related persons culpable of market manipulation
SFC cautions against disguised margin financing

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Regulatory News (Jul 2018)

July 27, 2018/in Regulatory News /by Tony Chan

SFC publicly censures Liang Guosheng and imposes a cold-shoulder order for breach of the Takeovers Code
SFC implements open-ended fund companies regime
Account executive convicted and fined for illegal short selling
Broker acquitted of illegal short selling
Hong Kong’s asset and wealth management business reached $24,270 billion in 2017
SFC reprimands and fines HSBC Broking Securities (Asia) Limited $9.6 million for regulatory breaches over bond sale
SFC bans Poon Chun Hing for 30 months
SFC bans Joseph Hsu Kar Hing for three years
SFC welcomes appointment of Non-Executive Directors
SFC welcomes re-appointment of Executive Directors
SFC standardises rules for prescribing professional investors
SFC amends takeovers rules
SFC reprimands and fines Citigroup Global Markets Asia Limited $4 million for alternative liquidity pool failures
SFC reprimands and fines CCB International Capital Limited $24 million for sponsor failures
SFC consults on amendments to anti-money laundering and counter-terrorist financing guidelines

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Regulatory News (Jun 2018)

July 27, 2018/in Regulatory News /by Tony Chan

SFC welcomes CSRC’s new rules to facilitate Mainland investors and fund managers’ access to SFC-licensed corporations’ securities advisory service
SFC endorses Exchange’s initiative to tackle backdoor listings
DBA Telecommunication (Asia) Holdings Limited convicted of making false or misleading announcement
SFC commences MMT proceedings against China Forestry’s former chairman and CEO for suspected disclosure of false or misleading information and former CEO for suspected insider dealing
Regulators conclude consultation on further enhancements to the OTC derivatives regulatory regime
SFC publishes Annual Report 2017-18
SFC proposes margin requirements for non-centrally cleared OTC derivatives
SFC and CSRC hold high-level meeting on enforcement cooperation
SFC reprimands and fines Lau Ki Fung $80,000
New speech by Carlson Tong: Speech at Hong Kong Institute of Directors’ Speaker Luncheon Meeting
CBIRC and SFC sign MoU to enhance supervisory cooperation and exchange of information of Cross-Boundary Regulated Entities
SFC publicly censures Chan Shing and imposes a cold-shoulder order for breach of the Takeovers Code
SFC and FSRA sign Fintech cooperation agreement
SFC signs MoU with BaFin on enhanced supervision of cross-border regulated entities

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Regulatory News (May 2018)

July 26, 2018/in Regulatory News /by Tony Chan

SFC reprimands and fines Hang Seng Investment Management Limited $3 million for regulatory breaches over funds’ cash management
SFC reprimands and fines Noah Holdings (Hong Kong) Limited HK$5 million for regulatory breaches
SFC concludes consultation on disclosure requirements for discretionary accounts
Update on the SFC’s real-time regulation
SFC concludes consultation on new OFC Rules and OFC Code
SFC concludes consultation on prescribing professional investors
SFC reprimands and fines Citigroup Global Markets Asia Limited $57 million for sponsor failures
New speech by Brian Ho: Keynote speech at Sixth Annual Institute on Corporate & Securities Law in Hong Kong 2018
SFC highlights concerns noted in licensing applications
SFC commences MMT proceedings against Magic Holdings International Limited and its directors for late disclosure of inside information
SFC adopts IOSCO’s enhanced standard for cross-border enforcement cooperation
Licence applicant convicted of providing false information to SFC
SFC CEO reappointed Chair of IOSCO Board
SFC provides guidance on use of instant messaging

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Regulatory News (Apr 2018)

July 26, 2018/in Regulatory News /by Tony Chan

SFC proposes enhancements to the Investor Compensation Regime
Codes on Takeovers and Mergers and Share Buy-backs align with new listing regime
SFC reprimands and fines CN Capital Management Limited and responsible officers $1.2 million over regulatory breaches
SFC reprimands and fines Instinet Pacific Limited $17.3 million for failures concerning its electronic and algorithmic trading systems and alternative liquidity pool
New speech by Julia Leung: Luncheon speech at the Hong Kong Investment Funds Association
Stock Connect: Regulators announce increases in daily quotas
SFC commences MMT proceedings against Fujikon and its senior executives for late disclosure of inside information
SFC seeks orders to disqualify former senior executives of Far East Holdings International Limited

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Regulatory News (Mar 2018)

March 8, 2018/in Regulatory News /by Tony Chan

SFC concludes consultation on online platforms and further consults on offline requirements for complex products
Appointments to SFC committees
Regulators consult on further enhancements to the OTC derivatives regulatory regime
SFC identifies continued deficiencies in sponsor work
Court convicts Chan Chi Kit of unlicensed dealing
SFC reprimands and fines UBS Securities Asia Limited $4.5 million in relation to facilitation trading activities
SFC’s regulatory action halts ICO to Hong Kong public
Third SFC Regulatory Forum discusses Hong Kong’s competitiveness
SFC reprimands and fines Deutsche Bank AKTIENGESELLSCHAFT and Deutsche Securities Asia Limited $8.3 million for regulatory breaches
SFC reprimands and fines CLSA Limited $9 million over internal control failures
SFC issues restriction notice to broker to freeze client account linked to suspected insider dealing
SFC and Exchange sign addendum to MOU Governing Listing Matters
Solicitor and sisters granted leave to appeal to Court of Final Appeal
SFC publicly criticises Nomura International (Hong Kong) Limited and Lee Yuen Yee, Annisa for breaches of Takeovers Code
SFC welcomes re-appointment of Executive Director

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Regulatory News (Feb 2018)

February 9, 2018/in Regulatory News /by Tony Chan

SFC obtains disqualification and compensation orders against former chairman and directors of Starlight
SFC and FINMA sign Fintech cooperation agreement
SFC enforcement priorities for 2018
Court orders Titan’s former senior executive and his mother to make payments to investors over insider dealing in Titan shares
SFC issues quarterly report
SFC reprimands and fines Interactive Brokers Hong Kong Limited $4.5 million for failures concerning its electronic and algorithmic trading systems
SFC warns of cryptocurrency risks
SFC reprimands and fines Credit Suisse (Hong Kong) Limited, Credit Suisse Securities (Hong Kong) Limited and Credit Suisse AG $39.3 million for regulatory breaches
Court orders Qunxing and former directors to compensate investors over disclosure of false or misleading information
Court of Final Appeal to hear Moody’s case

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Regulatory News (Jan 2018)

February 9, 2018/in Regulatory News /by Tony Chan

SFC provides guidance on best execution
SFC highlights compliance failures in product selling practices
SFC obtains court order to disqualify former chairman of Pearl Oriental Oil Limited for six years
SFC bans Chan Wai Nun for six months
SFC proposes amendments to takeovers rules
Court finds no insider dealing in Integrated Distribution Services Group shares
Appointment to SFC Advisory Committee
SFC reprimands and fines EFG Bank AG $2 million
SFC reprimands and fines Wu Hon Cheung $50,000

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Regulatory News (Dec 2017)

December 11, 2017/in Regulatory News /by Tony Chan

CSRC and SFC sign MoU to enhance supervisory and enforcement cooperation in futures markets
SFC bans Ng Chau for six months
Court orders re-trial after allowing SFC’s appeal in illegal short selling case
SFC publicly censures Zhang Qiang for breach of the Takeovers Code
SFC launches consultation on OTC derivatives and conduct risks
New SFC compliance bulletin highlights conflicts of interest
SFC reprimands and fines Standard Chartered Securities (Hong Kong) Limited $2.6 million
SFC proposes amendments to the Code on Unit Trusts and Mutual Funds
SFC and CSRC hold working meeting on enforcement cooperation and joint training
SFC reprimands and fines FXCM Asia Limited HK$2 million
SFC bans Abbie Yip Ka Ying for 18 months
SFC highlights benefits of cooperation
SFC issues reminder on cryptocurrency-related products and derivatives
Court dismisses challenge to SFC’s search warrant and provision of information to Mainland regulator
Court sets pre-trial date for insider dealing case
SFC issues quarterly report
Joint Statement – Second EU-Asia Pacific Forum on Financial Regulation
Process Review Panel Report 2016-2017

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