Updates
SFC’s Strategic Priorities for 2024-2026: Blueprint for Future Financial Markets in Hong Kong
Hong Kong’s SFC proposes to abolish the Mixed Media Offer (MMO) exemption and update ePO Guidelines. This aims to simplify the public offering process and ensure consistent electronic distribution of documents.
SFC Releases Consultation Paper on the Repeal of Mixed Media Offers and Amendments to ePO Guidelines
Hong Kong’s SFC proposes to abolish the Mixed Media Offer (MMO) exemption and update ePO Guidelines. This aims to simplify the public offering process and ensure consistent electronic distribution of documents.
Market Misconduct Tribunal Finds Former China Forestry Executives Guilty of Disclosure Violations and Insider Trading
Hong Kong’s Market Misconduct Tribunal found China Forestry Holdings’ executives guilty of serious financial misconduct, including fabricating data and insider trading. The ruling underscores the importance of accurate financial reporting and the consequences of fraud.
Hong Kong’s SFC & Police Pursue Major Ramp-and-Dump Syndicate in Coordinated Operation
Hong Kong’s Financial Commission and Police, in a coordinated operation, have successfully apprehended major ramp-and-dump syndicate that had managed to evade capture for over two years.
Hong Kong’s SFC and IA Join Forces to Tackle Cross-Sector Financial Irregularities
Hong Kong’s financial regulators, the SFC and IA, have teamed up to investigate suspected irregularities in Tahoe Life Insurance’s investment portfolio. This collaborative effort, spanning over four years, has resulted in the appointment of external managers for Tahoe Life and disciplinary actions against a fund manager involved in channeling assets to a related Mainland party.
Market Manipulation Case: First-Ever SFO Trial at Court of First Instance, Convicted Sentenced 6 years & 8 Months
A landmark verdict has been reached in a high-profile market manipulation case. A Hong Kong jury found three individuals guilty of conspiring to manipulate the share price of Ching Lee Holdings Limited. The elaborate scheme generated over HK$124 million in illegal profits. The convicted individuals face significant prison terms.
SFC Announces Definitive Timeline for Uncertificated Securities Market in Hong Kong
USM Implementation: The Securities and Futures Commission (SFC) plans to implement an uncertificated securities market (USM) in Hong Kong by the end of 2025, with a full transition by the end of 2030.
Enduring Strength of Hong Kong as Leading International Asset and Wealth Management Hub: SFC Survey 2023
Hong Kong’s Premier Status Reaffirmed: The SFC’s 2023 survey underscores Hong Kong’s position as a top asset and wealth management hub, with significant global asset allocation and strong fund inflows. The city saw a steady increase in Type 9 licensed firms and continued growth in AUM and net fund inflows.