Hong Kong, Asia's leading financial centre
Caproasia.com | 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 2021 Q2 Report: Actions on Market Misconduct, $640,000 Fines, 47527 Licensees, ESG Guidelines for Asset Managers

19th August 2021 | Hong Kong

The Hong Kong Securities and Futures Commission (SFC) has released the Q2 Report, summarising key developments of the financial industry from April to June 2021, including increased actions on market misconduct including ramp & dump market manipulation schemes and fraud, $640,000 (HKD 5 million) of fines on 4 corporations and 3 individuals, a total of 47,527 licensees including 3,174 licensed corporations in Hong Kong and ESG disclosure guidelines for Asset Managers.  ESG (Environmental, Social & Governance) View: Hong Kong SFC 2021 Q2 Report

“ Actions on Market Misconduct, $640,000 Fines, 47527 Licensees, ESG Guidelines for Asset Managers “

 


Ads & Announcements



SFC 2021 Q2 Report Key Statistics:

Hong Kong, Asia’s leading financial centre

SFC 2021 Q2 Report Key Statistics:

  • Licensees and registrants totalled 47,527, including 3,174 licensed corporations
  • Vetted 120 new listing applications
  • Authorised 39 unit trusts and mutual funds
  • First 2 ETFs cross-listed on Hong Kong (SEHK) and Shanghai Stock Exchange in June 2021
  • $640,000 (HKD 5 million) of fines on 4 corporations and 3 individuals
  • SFC made 2,319 requests for trading and account records triggered by untoward price and turnover movements.
  • 71 in-depth inspections of licensed corporations to review compliance with regulatory requirements.
  • Issued 179 directions to gather additional information in 28 cases and wrote to detail its concerns in one case as part of its review of corporate disclosures.

 

1) ESG Disclosure Guidelines for Asset Managers, Transit to Carbon Neutrality

The SFC provided asset managers with further guidance on disclosures for environmental, social and governance funds, especially those with a climate-related focus, to help investors better understand these products and combat greenwashing.

In July 2021, Hong Kong’s Green and Sustainable Finance Cross-Agency Steering Group, co-chaired by the SFC and the Hong Kong Monetary Authority, announced the next steps in its collaborative strategy to transition the financial ecosystem towards carbon neutrality.

 

2) Subsidise Setup of Open-Ended Funds & REITs in Hong Kong

To encourage a broader range of investment vehicles, it began accepting applications for the Government’s grant scheme to subsidise the setting up of open-ended fund companies and real estate investment trusts (REITs) in Hong Kong.

 

3) Upgrade Standards in Financial Industry

The SFC concluded a consultation on proposals to upgrade standards in the industry by updating the competency framework for intermediaries and individual practitioners.

 

4) Market Misconduct, IPOs, Ramp & Dump Scheme

The SFC also stepped up its joint efforts with the Stock Exchange of Hong Kong Limited (SEHK) to combat misconduct and improper behaviour in new listings. Problematic applications with red flags indicating a lack of genuine investor interest are now subject to heightened scrutiny, and the regulators will object to or reject an application if necessary.

The SFC also stepped up its joint efforts with the Stock Exchange of Hong Kong Limited (SEHK) to combat misconduct and improper behaviour in new listings.  Problematic applications with red flags indicating a lack of genuine investor interest are now subject to heightened scrutiny, and the regulators will object to or reject an application if necessary.

In a joint operation against a syndicate suspected of operating ramp and dump market manipulation schemes and committing fraud, the SFC and the Police searched a Hong Kong listed company’s office premises and its senior executives’ residences. The Police arrested four persons, including three of the company’s senior executives. The SFC also extended its campaign to raise awareness of social media investment scams organising community outreach events with the Police and reminding licensees to notify the SFC when they detect suspected ramp and dump schemes

 

5) Regulation of & Warning of Virtual Assets

The Government published consultation conclusions in May on a legislative proposal for the SFC to regulate centralised virtual asset exchanges. In a July 2021 statement, the SFC warned investors of the risks of trading virtual assets on an unregulated platform.

 

Related:

Fines:

More:


About Securities and Futures Commission (HK)Hong Kong Securities Futures Commission Logo

The Securities and Futures Commission (SFC) is an independent statutory body set up in 1989 to regulate Hong Kong’s securities and futures markets.

We derive our investigative, remedial and disciplinary powers from the Securities and Futures Ordinance (SFO) and subsidiary legislation. Operationally independent of the Government of the Hong Kong Special Administrative Region, we are funded mainly by transaction levies and licensing fees.

Visit: Hong Kong 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 TrialInvestor $680 YearlyProfessional $680 YearlyExecutive $2,000 Yearly


    Private 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 articleChina Distressed Asset Manager China Huarong with $15.9 Billion Losses to Receive State Bailout, Citic Group Becomes Key Shareholder
    Next articleHaitong International Launches Global Family Office, Appoints Roger Teow as Asia Head of Global Family Office & Singapore Head of Private Wealth Management
    Caproasia.com covering capital markets, investments and private wealth in Asia. Our users manage, advise & invest $25 trillion assets in Asia