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Hong Kong Securities And Futures Commission: Court Convicts And Fines Brilliance Capital Management Limited And Its Director For Unlicensed Activities. It is to this end that the Government and the SFC have proposed the new Bill. Your stocks are also safe. Date 24/07/2020. We derive our investigative, remedial and disciplinary powers from the Securities and Futures Ordinance (SFO) and subsidiary legislation. The principal regulator of Hong Kong's securities and futures markets is the SFC, which is an independent statutory body established in 1989 by the Securities and Futures Commission Ordinance (SFCO). In 1997 following the Asian financial crisis the regulatory framework was further improved. The SFC is responsible for fostering an orderly securities and futures markets, to protect investors and to help promote Hong Kong as an international financial centre and a key financial market in China. Its report, released in 1988, recommended the establishment of a single statutory body outside the civil service, headed and staffed by full-time professionals and funded primarily by the market. The Securities and Futures Commission (SFC) of Hong Kong is the independent statutory body charged with regulating the securities and futures markets in Hong Kong. Another major market crash in 1987 triggered the formation of the Securities Review Committee chaired by chartered accountant Ian Hay Davison. 1 Such as brokers, investment advisers and fund managers. The Securities and Futures Commission (SFC) was established in 1989 and is an independent statutory body set up to regulate the securities and futures markets in Hong Kong. It has not had any requirement for Government funding. The Securities And Futures Commission (SFC) is a non-governmental statutory body responsible for regulating Hong Kong's securities and futures markets. A comprehensive Securities and Futures Ordinance (SFO) was implemented in 2003, which expanded the SFC's regulatory functions and powers. On June 30, 2020, China’s national legislature passed a new national security law (NSL) for Hong Kong. The SFCO and nine other securities and futures related ordinances were consolidated into the SFO, which came into operation on 1 April 2003. The SFO vested us with multiple roles. The Securities and Futures Ordinance came into effect on 1 April 2003, consolidating and modernising the statutes previously regulating Hong Kong's securities and futures markets. It also proposed that this body be vested with broad investigative and disciplinary powers so it could properly carry out its regulatory functions. Hong Kong. The Securities and Futures Commission (SFC) is an independent non-governmental statutory body responsible for regulating the securities and futures markets in Hong Kong. Ashley Alder assumed the position of CEO in 2011 [2] and Carlson Tong was appointed non-executive Chairman in 2012 [3]. 3 Including banks and deposit-taking companies. Our principal responsibilities include maintaining and promoting the fairness, efficiency, competitiveness, transparency and orderliness of the securities and futures industry. March 24, 2015 . The SFC was created in 1989 in response to the stock market crash of 1987. Shenzhen-Hong Kong Stock Connect currently supports order placement over Securities Services Hotline only. Hong Kong's Special Status Since its establishment in 2000, the Commission has closely followed the situation in Hong Kong. If you continue to use this website, you are agreeing to their uses. Setting up a national security commission would allow Hong Kong’s leader to remain informed about new developments, fulfilling his or her responsibility to safeguard China’s sovereignty in … 46 salaries for 21 jobs at Securities and Futures Commission in Hong Kong. According to the SFC website, OSL Digital Securities Ltd. was licensed on Dec. 15. Salaries posted anonymously by Securities and Futures Commission employees in Hong Kong. Securities and Futures Commission 54/F, One Island East 18 Westlands Road, Quarry Bay, Hong Kong The Securities and Futures Commission (SFC) of Hong Kong is the independent statutory body charged with regulating the securities and futures markets in Hong Kong. In addition to that, no formal appeal procedures or practices are in place to check and balances the legitimacy of such examinations. However, changes in financial innovation and market structure require a flexible regulatory framework. Pamela Shores, Esq. The Securities and Futures Commission (SFC) today unveiled new electronic licensing functions on WINGS (Note 1), an online platform for submitting information to the regulator. The SFC is responsible for fostering an orderly securities and futures markets, to protect investors and to help promote Hong Kong as an international financial centre and a key financial market in China. With one in every five stock market scams originating on social-media platforms, Hong Kong’s securities regulator has launched a Facebook page … Its delegated by the SFC and conducted by the Hong Kong Securities Institute. The law establishes four broad categories of criminal offenses: secession, subversion, terrorism, and collusion with foreign forces, and creates new powers to support enforcement of the law. The Securities and Futures Commission (SFC) is an independent statutory body set up in 1989 to regulate Hong Kong's securities and futures markets. The Securities and Futures Commission derives a board range of investigation, remedial and disciplinary powers from the Securities and Futures Ordinance (SFO) and a subsidiary legislation. The others are the Hong Kong Monetary Authority, Insurance Authority and the Mandatory Provident Fund Schemes Authority. Eddy Fong was appointed non-executive Chairman in 2006. The Hong Kong Securities and Investment Institute faces a lot of criticisms since the test were not checked or validated independently before implemented to the examinations. Hong Kong: 11 more national security arrests over attempted boat escape to Taiwan Eight men and three women, aged 18 to 72, held on suspicion … The membership of the Association is divided into three categories: voting member, ordinary member, and associate member. Hong Kong Securities Association (HKSA) 《formerly known as Hong Kong Stockbrokers Association》is a non-profit making industry Association founded in 1978. The scope of our work includes: We are one of four financial regulators in Hong Kong. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 . We consider eToro one of the best Hong kong brokers because eToro is actively used by over 17000000 active traders. Even though it is considered to be a branch of the government, it is run independently under the authorisation of the laws relating to Securities and Futures.[1]. Securities and Futures Commission Salaries trends. The SFC is an independent statutory body whose powers derive from the Securities and Futures Ordinance (SFO) legislation. Wheatley first served as Chairman, and became CEO in 2006 when the posts of chairman and CEO were segregated to further promote corporate governance. The Committee for Safeguarding National Security of the Hong Kong Special Administrative Region is a committee established by the Government of Hong Kong as a result of the enactment of the Hong Kong national security law by the Standing Committee of the National People's Congress. Learn more about our, Academic and Accreditation Advisory Committee, Committee on Real Estate Investment Trusts, Share Registrars' Disciplinary Appeals Committee, Mainland-Hong Kong Mutual Recognition of Funds, Cooperative arrangements with the CSRC and Mainland exchanges, Cooperative arrangements with other Mainland regulators, Investigatory assistance and exchange of information, Public enquiries: Further guidance and sources of information, Companies (Winding Up and Miscellaneous Provisions) Ordinance exemptions, Guidelines on Disclosure of Inside Information, Disciplinary proceedings before the Takeovers Panel, Types of intermediary and licensed individual, Register of licensees & registered institutions, List of modifications or waivers of licensing requirements, List of jurisdictions with comparable OTCD margin requirements, List of publicly offered investment products, Specific information about unlisted structured investment products, List of recognised jurisdiction schemes and inspection regimes, List of registered open-ended fund companies, Register of Automated Trading Services Authorized Under Part III of the Securities and Futures Ordinance, List of Designated Central Counterparties for the Purposes of Mandatory Clearing Under Part IIIA of the Securities and Futures Ordinance, Aggregated reportable short positions of specified shares, Securities and Futures Ordinance (with subsidiary legislation), Companies (Winding Up and Miscellaneous Provisions) Ordinance (with subsidiary legislation), Securities and Futures Ordinance Part XV - Disclosure of Interests, List of eligible jurisdictions for remote onboarding of overseas individual clients, Anti-money laundering and counter-financing of terrorism, Other publications and information sources, Minimum information to be provided and warning statements, Open-ended Fund Company: The corporate investment fund vehicle in Hong Kong, High shareholding concentration announcements, The Mandatory Provident Fund Schemes Authority, The Investor Compensation Company Limited, Regulates and supervises the insurance industry, Regulates and supervises provident fund schemes, Regulates the securities and futures markets. The board is headed by the Chairman also appointed by the Chief Executive of Hong Kong. Even though it is considered to be a branch of the government, it is run independently under the authorisation of the laws relating to Securities Partner. … Hong Kong Securities And Futures Commission Previews New Electronic Licensing Services. The Securities and Futures Commission (SFC) regulates the securities and futures markets in Hong Kong. The SFC is responsible for securities and futures markets including the Hong Kong Stock Exchange the seventh largest Stock Exchange in the world (See List of stock exchanges). The SFC is funded by levies on transactions conducted on the Stock Exchange of Hong Kong (SEHK) and the Hong Kong Futures Exchange (HKFE), as well as fees charged to market participants. Under the legislation, regulation was conducted on a part-time basis by two separate commissions, one for securities and another for commodities trading. Further reviews to improve the regulatory regime were conducted after the 1997 Asian financial crisis. Your deposits are safeguarded in separate accounts with Hong Kong’s largest banks including HSBC and Bank of China. The Securities and Futures Commission (SFC) is an independent statutory body set up in 1989 to regulate Hong Kong's securities and futures markets. The SFC has a responsibility to maintain order and protect investors, it does this by carrying out the following tasks:[4]. Hong Kong’s Securities and Futures Commission has banned Pang Hon Pan, a former private banking relationship manager of Standard Chartered Bank, relationship manager of Bank of Singapore, for 21 months for failing to disclose to these firms his personal … In May 1989, the SFC was officially established as an independent statutory regulator. Securities and Futures Commission54/F, One Island East18 Westlands Road, Quarry Bay, Hong Kong, Tel +852 2231 1222 Setting and enforcing market regulations, including investigating breaches of rules and market misconduct; Supervising market operators, including exchanges, clearing houses, share registrars and alternative trading platforms, and helping to enhance market infrastructure; Authorising investment products and offering documents prior to their distribution to retail investors; Exercising oversight of regulations governing takeovers and mergers of public companies and of The Stock Exchange of Hong Kong Limited's regulation of listing matters; Cooperating with and providing assistance to local, Mainland and overseas regulatory authorities; and, Helping investors understand market operations, the risks of investing and their rights and responsibilities. 46 salaries for 21 jobs at Securities and Futures Commission in Hong Kong. As a financial regulator in an international financial centre, the SFC strives to strengthen and protect the integrity and soundness of Hong Kong's securities and futures markets for the benefit of investors and the industry. 2 Since November 2012, the SFC has delegated its investor education function to a subsidiary, the Investor and Financial Education Council. [citation needed], Candidates should be aware that neither SFC nor the Hong Kong Securities and Investment Institute (HKSI) endorses any study notes or practice questions. More than 50 of Hong Kong's most prominent pro-democracy activists and politicians have been arrested in the biggest crackdown since China imposed a draconian security law … Date 21/12/2020. The securities and futures markets in Hong Kong were largely unregulated until 1974 when legislation was introduced to regulate the industry following a market crash the previous year. 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