Securities and Futures Commission54/F, One Island East18 Westlands Road, Quarry Bay, Hong Kong, Tel +852 2231 1222 Another major market crash in 1987 triggered the formation of the Securities Review Committee chaired by chartered accountant Ian Hay Davison. 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. 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 … 3 Including banks and deposit-taking companies. Hong Kong’s Securities and Futures Commission (SFC) Enforcement Actions Trends and Tracker Related people. Hong Kong Securities and Futures Commission 's outgoing chairman Tong Ka-shing told South China Morning Post (SCMP) on Monday the commission was working to bring out regulations related to cryptocurrency trading platforms. 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. 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]. The SFC is one of four regulatory organisations that make up financial regulators in Hong Kong, one of the major financial centres in the world. Hong Kong Securities And Futures Commission Previews New Electronic Licensing Services. 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). Your stocks are also safe. The Securities and Futures Commission (SFC) is an independent non-governmental statutory body responsible for regulating the securities and futures markets in Hong Kong. Its delegated by the SFC and conducted by the Hong Kong Securities Institute. If you continue to use this website, you are agreeing to their uses. Pamela Shores, Esq. However, changes in financial innovation and market structure require a flexible regulatory framework. Salaries posted anonymously by Securities and Futures Commission employees in Hong Kong. Under the legislation, regulation was conducted on a part-time basis by two separate commissions, one for securities and another for commodities trading. Hong Kong Securities And Futures Commission: Court Convicts And Fines Brilliance Capital Management Limited And Its Director For Unlicensed Activities. 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. 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. 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. It is to this end that the Government and the SFC have proposed the new Bill. Jack Ma’s Ant Group Co. won a key approval from the China Securities Regulatory Commission for its listing in Hong Kong, paving the way for what could be … Operationally independent of the Government of the Hong Kong Special Administrative Region, we are funded mainly by transaction levies and licensing fees. We derive our investigative, remedial and disciplinary powers from the Securities and Futures Ordinance (SFO) and subsidiary legislation. 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. Securities trading began in Hong Kong in 1866, ... Commission on Hong Kong stock trades is a low 18 HKD per transaction, the lowest we could find for members of SEHK. Date 21/12/2020. Securities and Futures Commission (SFC) Hong Kong Related Content Published on 24 Apr 2008 • Hong KongThe 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). Email enquiry@sfc.hk, We use cookies to improve the website performance and user experience. We are licensed and regulated by the Securities & Futures Commission of Hong Kong. Partner. Securities and Futures Commission Salaries trends. 1 Such as brokers, investment advisers and fund managers. The intelligence agents will have a new base in the city at a mainland security commission, while Hong Kong's Government will also have its own commission, backed by a special police unit. 2 Since November 2012, the SFC has delegated its investor education function to a subsidiary, the Investor and Financial Education Council. The scope of our work includes: We are one of four financial regulators in Hong Kong. [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. March 24, 2015 . Matt Bower. 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. 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 The SFC was created in 1989 in response to the stock market crash of 1987. The board is headed by the Chairman also appointed by the Chief Executive of Hong Kong. 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. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 . The Securities and Futures Commission has just given out the first-ever crypto license to OSL Digital Securities, which will soon commence trading for several cryptocurrencies, including bitcoin. Hong Kong . … 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. Andrew Sheng served as Chairman of the SFC from 1998 until 2005, when he was succeeded by Martin Wheatley. We derive our investigative, remedial and disciplinary powers from the Securities and Futures Ordinance (SFO) and subsidiary legislation. The SFO vested us with multiple roles. It also proposed that this body be vested with broad investigative and disciplinary powers so it could properly carry out its regulatory functions. 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 Securities and Futures Commission (SFC) regulates the securities and futures markets in Hong Kong. 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. In May 1989, the SFC was officially established as an independent statutory regulator. 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) is an independent statutory body set up in 1989 to regulate Hong Kong's securities and futures markets. In 1997 following the Asian financial crisis the regulatory framework was further improved. With one in every five stock market scams originating on social-media platforms, Hong Kong’s securities regulator has launched a Facebook page … We consider eToro one of the best Hong kong brokers because eToro is actively used by over 17000000 active traders. 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 an independent statutory body whose powers derive from the Securities and Futures Ordinance (SFO) legislation. Salaries posted anonymously by Securities and Futures Commission employees in Hong Kong. Hong Kong. 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. 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 Licensing Examination for Securities and Futures Intermediaries (LE), a practical and market-focused examination, was developed with the assistance of regulators, academics and practitioners drawn from across the financial services industry. Discrepancies between different languages are commonplace with these examinations. Hong Kong's Special Status Since its establishment in 2000, the Commission has closely followed the situation in Hong Kong. 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 … Hong Kong’s securities and futures markets have enjoyed exceptional growth in recent years. Hong Kong now has its first licensed crypto trading platform. The membership of the Association is divided into three categories: voting member, ordinary member, and associate member. The SFCO and nine other securities and futures related ordinances were consolidated into the SFO, which came into operation on 1 April 2003. [5], SFC logo (on the left), introduced in 2018, Jing hyun kahp kèih fo sih mouh gāam chaat wái yùhn wuih, Financial Services and the Treasury Bureau, http://www.sfc.hk/web/EN/about-the-sfc/organisational-chart/board-of-directors/chief-executive-officer/alder,-ashley-ian.html, http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/corporate-news/doc?refNo=12PR104, http://www.sfc.hk/web/EN/pdf/published-resources/corporate/CorpBrochure_Mar2012.pdf, "The notice about the revision study notes, examination questions and answers of the Licensing Examination for Securities and Futures Intermediaries ("LE") which are available for sale in other websites", Economic Analysis and Business Facilitation Unit, Independent Commission Against Corruption, Policy Innovation and Co-ordination Office, Sales of First-hand Residential Properties Authority, https://en.wikipedia.org/w/index.php?title=Securities_and_Futures_Commission&oldid=996195419, Financial regulatory authorities of Hong Kong, Hong Kong government departments and agencies, Short description is different from Wikidata, All Wikipedia articles written in Hong Kong English, Articles containing Chinese-language text, Articles with unsourced statements from October 2018, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License, Licensing and supervising market participants such as brokers, investment advisers and fund managers, Supervising market operators including exchanges, automated trading services and clearing houses, Authorising offering documents of investment products to be offered to the public, Overseeing corporate activities of listed companies under the Codes on Takeovers and Mergers and Share Repurchases, Educating investors on markets, investment products and their risks, This page was last edited on 25 December 2020, at 02:09. 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. Eddy Fong was appointed non-executive Chairman in 2006. A comprehensive Securities and Futures Ordinance (SFO) was implemented in 2003, which expanded the SFC's regulatory functions and powers. The others are the Hong Kong Monetary Authority, Insurance Authority and the Mandatory Provident Fund Schemes Authority. The SFC has a responsibility to maintain order and protect investors, it does this by carrying out the following tasks:[4]. DIVISION OF TRADING AND MARKETS . 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 … According to the SFC website, OSL Digital Securities Ltd. was licensed on Dec. 15. The Hong Kong Securities and Futures Commission has released a number of circulars relating to COVID-19, including March 31 guidance on licensing and ongoing compliance matters. An executive committee led by a chief executive officer (CEO) reports to the board and the board chairman and he runs the agency on a day-to-day basis; this position was created in 2006. The Securities and Futures Commission (SFC) is an independent statutory body set up in 1989 to regulate Hong Kong's securities and futures markets. Further reviews to improve the regulatory regime were conducted after the 1997 Asian financial crisis. Hong Kong’s Securities and Futures Commission (SFC) has issued a statement regarding ICO regulations. In addition to that, no formal appeal procedures or practices are in place to check and balances the legitimacy of such examinations. Ashley Alder assumed the position of CEO in 2011 [2] and Carlson Tong was appointed non-executive Chairman in 2012 [3]. your letter dated March 24, 2015, 1 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. Re: The Hongkong and Shanghai Banking Corporation Limited and HSBC Bank pic File No. The SFC has been funded through fees and transaction levies since the early 1990s. 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. The SFC is made up of a board whose members are appointed by the Chief Executive of Hong Kong for a fixed term, a majority of which must be independent Non-Executive Directors. Securities and Futures Commission 54/F, One Island East 18 Westlands Road, Quarry Bay, Hong Kong Linklaters lOth Floor, Alexandra House 18 Chater Road . 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 … Date 24/07/2020. Shenzhen-Hong Kong Stock Connect currently supports order placement over Securities Services Hotline only. Hong Kong Securities Association (HKSA) 《formerly known as Hong Kong Stockbrokers Association》is a non-profit making industry Association founded in 1978. Free real-time detailed quote entitlement will be based on your Banking Plans with Standard Chartered Bank (Hong Kong) Limited (the “ Bank ”). On June 30, 2020, China’s national legislature passed a new national security law (NSL) for Hong Kong. eToro ia regulated by tier 1 financial regulators including Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC). Beijing on Saturday unveiled details of its proposed national security law for the Hong Kong Special Administrative Region (HKSAR), including the set up of a new commission, led by the SAR government, to safeguard state security and prevent terrorist activities.. HKSAR Chief Executive Carrie Lam immediately voiced support for the draft. 46 salaries for 21 jobs at Securities and Futures Commission in Hong Kong. The Securities And Futures Commission (SFC) is a non-governmental statutory body responsible for regulating Hong Kong's securities and futures markets. Your deposits are safeguarded in separate accounts with Hong Kong’s largest banks including HSBC and Bank of China. Our principal responsibilities include maintaining and promoting the fairness, efficiency, competitiveness, transparency and orderliness of the securities and futures industry. The four regulators cooperate with each other to ensure proper conduct in the markets and to forestall financial crime and misconduct. TP 15-10 Dear Ms. Shores: In . It has not had any requirement for Government funding. 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. Securities and Futures Commission Salaries trends. Powers derive from the Securities and Futures industry 2011 [ 2 ] and Carlson Tong was appointed non-executive Chairman 2012. 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