Tag : sfc

Fund houses and banks have set out areas where they want regulators to provide certainty around the China-Hong Kong mutual recognition scheme for funds.

The city's Securities and Futures Commission has reprimanded and fined Sun On Tat Securities and one of its responsible officers for managerial and supervisory failures.

They argue that incoming regulations governing the monitoring of algorithmic trading are often counterintuitive and leave them potentially liable for unforeseeable trading risks.

The firm will be better able to source block liquidity in Asia as a result, says regional head equity trader Lee Bray. Meanwhile he is relaxed about potential curbs on dark pool usage.

Hong Kong financial advisers are more concerned about the potential impact of changing rules than their peers in Singapore, pointing to a communication breakdown, finds a Skandia survey.

The SFC has fined China Securities Holdings HK$1.3 million, citing employing unlicensed dealing staff, limited supervision and insufficient record keeping.

If high-net-worth individuals end up being classed as retail investors in Hong Kong, the likes of hedge funds and private banks may face further compliance headaches.

The SFC fines A One Investment Company HK$1.2 million, citing internal control failures. The regulator is also seeking to wind up a HK-listed firm under section 212 for the first time.

Regulators in the three markets are putting faith in agreements for mutual recognition of funds – and their efforts may be coming to fruition. And Korean firms are taking note.

Funds under management in Hong Kong reached record levels as of the end of 2012, according to the securities regulator's annual survey.

The bank agrees to buy back equity-linked notes issued to retail investors between July 2007 and May 2008.

The city's Securities and Futures Commission prohibits Mok Kin Hung from re-entering the industry after his conviction for stealing from a client by forging his signature.