On 14 September 2017, the Securities and Futures Commission (SFC) and the Securities Commission Malaysia (SCM) signed a co-operation agreement to collaborate on the promotion of financial innovation in Hong Kong and Malaysia
The co-operation agreement sets out a framework for collaboration between the SFC and the SCM and covers matters such as referrals, information
The Securities and Futures Commission (SFC) recently issued two circulars to licensed corporations engaged in asset management business. The circulars were issued following routine inspection by the SFC of corporations licensed for such activity.
The first circular was issued by the SFC on 31 July 2017
On 28 August 2017, the Securities and Futures Commission (SFC) and the Dubai Financial Services Authority (DFSA) signed a co-operation agreement to collaborate on the promotion of financial innovation in Hong Kong and Dubai.
The co-operation agreement sets out a framework for collaboration between the SFC and the DFSA and covers matters such as referrals,
On 25 August 2017, the Securities and Futures Commission (SFC) and the Hong Kong Police (HKP) signed a memorandum of understanding (MoU) to formalise and strengthen the parties’ co-operation in combating financial crime.
The MoU, which became effective on 25 August 2017, covers a variety of matters, including referral of cases, joint investigations, exchange and
Following a consultation paper issued by the Securities and Futures Commission (SFC) in July 2015, the SFC, on 24 July 2017, published consultation conclusions and further consultation on the proposed capital and other prudential requirements for licensed corporations engaged in over-the-counter derivatives (OTCD) activities and other proposed changes to the Securities and Futures (Financial Resources)
On 6 July 2017, the Hong Kong Monetary Authority (HKMA) issued a circular in respect of its Supervisory Policy Manual module RE-1 “Recovery Planning” (SPM RE-1). The circular provides certain categories of authorized banks in Hong Kong (AIs), in particular, overseas incorporated banks with branch operations in Hong Kong and Hong Kong incorporated small scale
On 28 June 2017, the Securities and Futures Commission (SFC) launched a consultation on the proposed rules and code for Hong Kong-incorporated open-ended fund companies (OFCs).
At present, Hong Kong investment funds can only be established in the form of a unit trust, and not in corporate form. This is due to the restrictions under
On 28 June 2017, Hong Kong’s Legislative Council considered the new Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) (Amendment) Bill 2017 (the Bill). Subject to the Bill being passed by the Legislative Council, the Government proposes to implement the amendments on 1 March 2018.
The Bill proposes to introduce statutory customer due diligence (CDD) and
On 23 June 2017, the Securities and Futures Commission (the SFC) issued a circular clarifying certain competency requirements for market participants seeking to be licensed for Type 9 (asset management) regulated activity (Type 9 RA).
Pursuant to the circular, the SFC has provided public guidance on the circumstances in which an applicant’s existing experience could
Hong Kong’s Securities and Futures Commission (SFC) will introduce a new system for mandatory electronic filing of disclosure of interests notifications (DI notices), which will come into effect on 3 July 2017. From that day onwards, market participants are required to submit DI notices electronically through the new Disclosure of Interests Online System (DION System).