On 25 November 2022, the Securities and Futures Commission (SFC) and the China Securities Regulatory Commission (CSRC) held the 13th Mainland and Hong Kong high-level meeting on enforcement cooperation. The SFCโs news release is available here.
The SFC and the CSRC, in addition to briefing on recent enforcement outcomes and cooperation, reached a consensus regarding the:
- recognition of:
- the โsmooth and efficient operation of the regular, multi-level and all-round cross boundary enforcement cooperation and exchange mechanismโ1ย between the SFC and the CSRC;
- the need to โfurther explore room for enforcement cooperation and efficiency enhancement on the basis of maintaining and refining the existing cooperation mechanism in facing new challenges and opportunitiesโ; and
- the need to deepen the mutual access between the Hong Kong and the Mainland capital markets;
- appreciation for โthe full mutual assistance on investigations and highest priority attached to major and urgent casesโ;
- acknowledgement of the exchange programme between the SFC and the CSRC, established over 10 years ago, as an important channel for investigators to understand the two jurisdictionsโ enforcement system and provide โefficient mutual assistanceโ. The joint training program between the SFC and the CSRC has also served as โa solid foundation for continuously enhancing the quality of enforcement cooperationโ; and
- continuous and efficient cooperation between the SFC and the CSRC at a working-level to โstudy and resolve specific issues encountered in the enforcement cooperationโ.
The SFCโs Executive Director of Enforcement, Mr Christopher Wilson looked forward to enhancing the SFCโs and the CSRCโs close enforcement cooperation โin breadth and depthโ and hailed the start of a fresh chapter in their collaboration.
1ย All quotations are taken from SFCย โSFC and CSRC Hold High-Level Enforcement Cooperation Meetingโย (2022)
