Hong Kong’s SFC makes fighting corporate fraud a top priority in 2018
Other key tasks are battling insider dealing and money-laundering control failures
The Securities and Futures Commission has made fighting against corporate fraud its 2018 top enforcement priority, the Hong Kong regulator said on Monday.
Other key tasks include battling insider dealing and market manipulation, intermediary and sponsor misconduct and money-laundering internal control failures, according to its Enforcement Reporter.
It also underlines the significance of its cooperation with the China Securities Regulatory Commission, the mainland’s top securities watchdog, for the development of Hong Kong’s financial markets.
“Corporate fraud remains our top enforcement priority and we are particularly concerned about false or misleading financial statements, initial public offering fraud and other sponsor failures,” said Thomas Atkinson, the SFC’s executive director of enforcement. “The SFC will make every effort to combat fraud and misconduct and hold individuals accountable.”
The report, posted on the SFC website, is part of the commission’s initiatives to enhance the transparency of its work and provide the market with regular updates on enforcement trends and priorities.