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Hong Kong SFC Releases Key Statistics in 2017-2018 Annual Report

Hong Kong’s Securities and Futures Commission (SFC) has released its 2017-18 Annual Report.  The financial industry reported record high of 44,358 licensees & registrants and 2,702 licensed corporations.  The regulator also fined $61.55 million (HK$483 million) against 31 licensed corporations and individuals.

” Hong Kong SFC Releases Key Statistics in 2017-2018 Annual Report “

Key Statistics:

  • 44,358 Licensees and registrants
  • 2,702 Licensed corporations
  • 134 collective investment schemes approved
  • 114 unlisted structured products approved
  • 309 listing applications reviewed
  • 401 takeovers-related transactions & applications supervised
  • 301 on-site inspections of intermediaries
  • 12 applications from overseas regulated exchanges & electronic trading facilities to provide automated trading services approved
  • 8,461 requests for trading & account records from intermediaries as a result of market surveillance
  • 31 licensed corporations & individuals fined $61.55 million (HK$483 million)

Key highlights of the year includes SFC implementing Manager-In-Charge regime which increases senior management accountability, working with the China Securities Regulatory Commission to expand mutual market access, and working with the Independent Commission Against Corruption to conduct joint searches and investigations.

View the full report here.

Carlson Tong, SFC’s Chairman:

“As markets become increasingly complex and interconnected, it is crucial that we press ahead with initiatives to advance Hong Kong’s position as an international financial centre whilst ensuring investor protection.  We remain squarely focused on upholding fair and orderly markets to foster investor confidence.”

Ashley Alder, the SFC’s Chief Executive Officer:

“We are moving forward with our front-loaded regulatory approach to tackle market misconduct and other irregularities with earlier and more targeted intervention. This allows us to get ahead of threats to market integrity, safety and quality, whilst also focusing our enforcement efforts on areas posing the greatest risks to investors and our markets.”

Source: SFC

 

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