In Securities and Futures Commission v Yiu Hoi Ying Charles and Others, the Court of Final Appeal (CFA) curtailed the ambit of the “innocent purpose defence” to insider dealing under s.271(3) of the Securities and Futures...more
Speed read -
On 7 February 2018, the Court of First Instance (CFI) published reasons for its decision in China Lumena New Materials Corp. Justice Harris reaffirmed his earlier decision and held that where foreign...more
In December 2017, the Process Review Panel (PRP), tasked to ensure fairness and consistency in the operation of the Securities and Futures Commission (SFC), published its annual report for 2016-17. The PRP’s report provides...more
On 12 December, the Securities and Futures Commission (the SFC) published updated guidance on cooperation (the Guidance) in disciplinary, civil court and Market Misconduct Tribunal (MMT) proceedings. Much of the guidance is...more
On the day the transition period for the implementation of the Securities and Futures Commission’s (SFC) Manager-in-Charge regime (MIC Regime) for licensed corporations ended, the Hong Kong Monetary Authority (HKMA) announced...more
Senior management accountability has been a priority of global financial services conduct regulators in recent years.
One need only look to a speech on 19 January 2017 by Mark Steward, director of enforcement and market...more
On 16 December 2016, the Securities and Futures Commission (SFC) issued a Circular to Licensed Corporations entitled Augmenting the Accountability of Senior Management (Circular).
At the heart of the Circular was the...more
On 16 December 2016, the Securities and Futures Commission (SFC) announced the introduction of a Manager-in- Charge initiative (MIC Regime) aimed at increasing the accountability of the senior management of Hong Kong licensed...more
On 14 June 2012, the Hong Kong Legislative Council passed the first cross-sector competition law in Hong Kong, the Competition Ordinance (Ordinance). The Ordinance created the Competition Commission (the Commission), which...more