Events listed in Securities and Futures Ordinance
Circular to intermediaries Cybersecurity review of selected licensed corporations
ID 24951
The Securities and Futures Commission (SFC) has issued a circular addressed at financial market intermediaries to inform that it will launch a cybersecurity review of selected licensed corporations (LCs) to evaluate LCs‘ cybersecurity management, compliance, and information system resilience against cyber threats. This review aligns with the SFC’s emphasis on cybersecurity and follows a review of recent cybersecurity incidents and on-site inspections which reveale ...
Circular to Licensed Corporations in relation to list of prescribed persons who ...
ID 24781
The Securities and Futures Commission of Hong Kong, SFC, has issued a circular informing about an updated list of firms which have reached their „clearing threshold under the clearing and record keeping rules for the OTC derivatives regime“ and which are subsequently subject to central clearing requirements for in-scope transactions.
Regulators conclude consultation on revising OTC derivative Clearing Rules
ID 24753
In March 2023, the Securities and Futures Commission of Hong Kong (SFC) and the Hong Kong Monetary Authority (HKMA) launched a joint consultation on proposed revisions to the Securities and Futures (OTC Derivative Transactions – Clearing and Record Keeping Obligations and Designation of Central Counterparties) Rules in view of the global benchmark rate reform and the transitioning away from inter-bank offered rates (IBORs) to ...
SFC concludes consultation on risk management guidelines for futures dealing ...
ID 24738
Following a consultation in November 2022 on proposed new risk management guidelines for futures dealing activities, the Securities and Futures Commission of Hong Kong, SFC, has now published a corresponding consultation conclusion paper. In this paper, the Commission briefly summarizes the responses it has received to its consultation and outlines the final guidelines as they will apply from February 25, 2024. #### Background On ...
SFC concludes consultation on amendments to enforcement-related provisions of the ...
ID 24596
SFC concludes a consultation paper from Summer 2022 (see eventid=16304). In its conclusion paper, the regulator briefly describes the responses it has received to its consultation and outlines the next steps. Key points highlighted include: Part 1 -„SFC may apply for remedial and other orders against a regulated person“ Although many respondents have raised legal and implementation issues related to this proposal, SFC underlines ...
Hong Kong’s asset and wealth management business fared on par with global markets ...
ID 24567
The Securities and Futures Commission of Hong Kong (SFC) has published the results of its recent annual survey on Private Wealth Management. As the survey of 1,162 firms – including asset management and investment fund advisory firms – reveals, the industry as a whole contracted in 2022 as did the entire global asset management industry. In fact, overall assets under management (AuM) have decreased ...
Joint circular to intermediaries Streamlined approach for compliance with ...
ID 24465
The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) have released a joint circular addressed at financial market intermediaries regarding their compliance with suitability obligations when dealing with sophisticated professional investors (SPIs) who possess substantial net worth and financial expertise. In this circular, both regulators seek to clarify some issues in this context, thereby noting the following: Suitability assessments involv ...
Circular on licensing and registration of depositaries of SFC-authorised collective ...
ID 24430
Following the publication of a consultation response paper in March 2023 concerning registration or licensing requirements of depositories of SFC-authorized Collective Investment Schemes, CISs (please see EventID 20399 in this context for more information), the Securities and Futures Commission of Hong Kong, SFC, has now published a related circular. The circular is aimed at providing guidance in relation to these new requirements and outlines ...
SFC welcomes licence and registration applications from depositaries of public funds
ID 24412
The Securities and Futures Commission, SFC, has published a statement to once again remind of the fact that it is currently accepting applications from existing depositories of Collective Investment Schemes (CISs) for licensing and registration of a RA 13 activity related to depositories. Applications may only be submitted via WINGS, the online filing platform of the SFC, up to November 30, 2023 (inclusive). RA ...
GN 4168 of 2023
ID 24221
The Securities and Futures Commission of Hong Kong, SFC, has published a General Notice, G.N. 4168/2023, to gazette the revocation of all prior forms published on the Commission’s web site and accessible through WINGS, the electronic filing platform of the SFC (http://wings.sfc.hk) prior to July 21, 2023. The new forms as listed on the site shall be used for the purpose of submitting licensing ...