News in Brief - Caproasia Online | The leading source of data, research, information & resource for investment managers, professional investors, UHNW & HNW investors, and advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more

This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $3 billion.

Hong Kong SFC Found Serious Deficiencies in IPO Sponsors Work

Hong Kong’s Securities and Futures Commission (SFC) have uncovered serious deficiencies and instances of non-compliance in the sponsors’ work done for initial public offering (IPO) transactions.  A review of work was done from 2013 to 2017 on 31 licensed corporations (LC), with some sponsors failing to take reasonable steps to follow up on their due diligence despite obvious red flags, indicating poor professional judgement and a lack of professional scepticism.

” Hong Kong SFC found serious deficiencies in IPO sponsors Work “

SFC highlighted some sponsors had failed to maintain effective Chinese walls to prevent the flow of confidential information between the sponsors and related LCs. In some cases, information (not publicly available) relating to the listing applications was passed from the transaction teams to staff from related LCs, before approvals were obtained.

Since 2013, 44 listing applications were returned or rejected.  SFC will be conducting more frequent inspections and supervisory actions on sponsors with a of history of returned or rejected listing applications.  Between 2009 and 2016, Hong Kong is the world’s largest IPO market (funds’ raised) in 5 of the 8 years.  In 2016 alone, HK$195.3 billion ($24.88 billion ; XR: 7.85) was raised.

Ads & Announcements

The 2023 Investment Day | HK & SG - Visit & Register here
Where do you invest $250k, $1 million, $10 million, $100 million or $1 billion? Can you generate IRR of 10% / 15% / 20% or more? Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 28th March 2023 in Hong Kong, 4th April 2023 in Singapore, and Virtual Investment Day in April 2023.

Learn more: Report on the Thematic Review of Licensed Corporations Engaged in Sponsor Business


Ashley Alder, SFC’s Chief Executive Officer:

“Sponsors and their senior executives are reminded to comply with the expected standards and the relevant codes, rules and regulations in carrying out their work.  The SFC will not hesitate to take enforcement action against those responsible for failing to do so.”

Source: Securities and Futures Commission


2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM

Register Below
Latest 2022 data & reports, insights & news
Every Saturday & Sunday 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

For Investors | Professionals | Executives

New to Caproasia?
Join 10,000 +
Learn More | Sign Up Today

For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Subscribe / Sign Up / Contact Us

    Mailing ListFree TrialSubscriptionMembershipEvents

    Professional InvestorPrivate WealthFamily OfficePrivate BankingWealth ManagementInvestmentsAlternativesPrivate MarketsCapital MarketsESG & SICEO & EntrepreneursTax, Legal & RisksHNW & UHNWs Insights

    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014

    Web links may be disabled on mobile for security.
    Please click on desktop.

    Previous article15th Singapore International Reinsurance Conference (SIRC) to Take Place on 29th October to 1st November 2018
    Next articleBNP Paribas Appoints Vikas Jaidka as Head of NRI in Hong Kong & Singapore covering capital markets, investments and private wealth in Asia. Our users manage, advise & invest $25 trillion assets in Asia