Search Results for: Securities and Futures Commission
Hong Kong and Australia seal agreement on fintech cooperation
June 13th, 2017
The Hong Kong Securities and Futures Commission (‘the SFC’) and ASIC today signed an Agreement on fintech cooperation which provides a framework for cooperation to support and understand financial innovation in each economy. This Cooperation Agreement builds on the ...
CFTC Charged a Company and its Owner in a More than $11 Million Trading Futures fraud scheme
June 9th, 2017
CFTC Charged Seattle Residents Sung Hong a/k/a Lawrence or Laurence Hong, Hyun Joo Hong a/k/a Grace Hong, and Her Company Pishon Holding LLC with Fraudulently Soliciting More than $11 Million from Customers in Connection with Trading Futures Federal Court ...
HKEX Plans to Introduce Phase 2 of Securities Market’s Closing Auction Session
May 29th, 2017
Hong Kong Exchanges and Clearing Limited (HKEX) announced today (Friday) that it plans to implement Phase 2 of its securities market’s Closing Auction Session (CAS) in the early third quarter of 2017, subject to relevant regulatory approvals by the ...
Appointments and re-appointments to SFC Advisory Committee
May 20th, 2017
The Securities and Futures Commission (SFC) welcomes the appointment and re- appointment by the Financial Secretary of members to the SFC Advisory Committee for two years from 1 June 2017 to 31 May 2019 (Note 1). “I warmly welcome ...
The regulatory authorities of Hong Kong and UK sign Fintech cooperation agreement
May 15th, 2017
The Securities and Futures Commission (SFC) today entered into a cooperation agreement with the UK Financial Conduct Authority (FCA) to foster collaboration in support of financial technology (Fintech) innovation (Note 1). Under the agreement, the SFC and the FCA ...
SFC fined millions a securities dealing company
May 10th, 2017
SFC reprimands and fines Promising Securities Company Limited $3.5 million The Securities and Futures Commission (SFC) has reprimanded and fined Promising Securities Company Limited (Promising) $3.5 million for breach of the Code of Conduct and the Management, Supervision and ...
SFC releases report on retail futures brokers
April 28th, 2017
The Securities and Futures Commission (SFC) today published its Report on the fact-finding exercise on retail futures brokers which aimed to understand the business profiles and major risk management controls and practices of 10 major local futures brokers (the ...
SFC reprimands and fines iSTAR International Futures $3 million
April 12th, 2017
SFC reprimands and fines iSTAR International Futures Co. Limited $3 million over anti-money laundering-related internal control failures The Securities and Futures Commission (SFC) has reprimanded iSTAR International Futures Co. Limited, now known as Rifa Futures Limited (Rifa), and fined ...
Deutsche Bank and its UK subsidiary to pay $775 million penalty
March 29th, 2017
DB Group Services (UK) Limited (DBGS), a wholly owned subsidiary of Deutsche Bank AG (Deutsche Bank), was sentenced today for its role in manipulating London Interbank Offered Rates (LIBOR) for U.S. Dollar and several other currencies. LIBOR is a ...
SFC fined in total $15 million Merrill Lynch Far East and Merrill Lynch (Asia Pacific)
March 27th, 2017
The Securities and Futures Commission (SFC) has resolved its concerns with Merrill Lynch Far East Limited (MLFE) and Merrill Lynch (Asia Pacific) Limited (MLAP) over internal control failures. Under the resolution, the SFC reprimanded and fined them a total of ...
