Enoch Yiu

Dividing the pros from the merely rich

Securities and Futures Commission. Photo: K.Y. Cheng

The Securities and Futures Commission has finally released the long-awaited reform plan to change the regulatory regime for so-called professional investors.

Tuesday, 21 May, 2013, 5:48am

SFC won't budge on criminal liability clause

The Securities and Futures Commission (SFC) plans to stick to its guns over a controversial plan to make sponsors of new listings face civil and criminal liability if they fail in their due diligence, but it will give markets a few more weeks to discuss the planned reform.

6 Jul 2012 - 12:00am

Foes unite over audit crime bill

A law to hold auditors criminally liable if they fail to declare a company's accounting problems is set to pass after the city's two largest political parties yesterday said they backed it.

The 2,000-page Companies Bill, being debated in the Legislative Council, aims to modernise the outdated Companies Ordinances.

5 Jul 2012 - 12:00am

We don't want to jail bankers, SFC chief says

The Securities and Futures Commission's controversial proposal to tighten rules covering listing sponsors is not intended to put bankers in jail but to encourage them to do a better job, the regulator's chief said.

23 May 2012 - 12:00am

Regulator's income structure needs review

While brokerages and banks have laid off thousands of staff amid financial belt-tightening, the industry regulator has the opposite problem.

The Securities and Futures Commission has been attacked by lawmakers for being 'too rich' and having an unnecessarily bloated reserve.

21 Feb 2012 - 12:00am

Shorter lunches a bonanza for fast food outlets

While stock brokers are furiously opposed to moves by the stock exchange to further extend trading hours by again reducing their lunch break, food outlets in Central welcome the opportunity to sell more takeaway lunches to brokers who will now have to hurry back to their trading desks.

20 Feb 2012 - 12:00am

Watchdog eyes west wing deal

The cash-rich Securities and Futures Commission is considering buying offices in the redeveloped West Wing of the government offices, say sources close to the watchdog body.

The SFC, which is responsible for regulating the securities and futures markets in Hong Kong, was criticised by lawmakers earlier this month for having huge cash reserves of HK$7.4 billion.

20 Feb 2012 - 12:00am

Banks' yen for yuan belies demand

Few would think to link their tax payment with the yuan, but apparently banks are way ahead of us all. With many Hongkongers busy arranging loans to pay their tax bill, some banks have tied their tax loans with their yuan business.

One bank has offered a White Collar reader a low interest rate for his tax loan, provided he opens a yuan account.

7 Feb 2012 - 12:00am

Regulations eased to allow banks to expand yuan business

The Hong Kong Monetary Authority has relaxed certain regulations to help lenders further expand their yuan business.

In a circular sent to banks yesterday, the HKMA said they could now hold dim sum bonds issued by the Ministry of Finance as part of their risk management requirement.

18 Jan 2012 - 12:00am

New president vows to increase use of internet

While some senior accountants in Hong Kong prefer traditional methods of communication, newly-elected Hong Kong Institute of Certified Public Accountants president Keith Pogson is determined to use modern technology to make sure he stays in touch.

28 Dec 2011 - 12:00am

Chan warns funds may exit markets

European banks may withdraw their funding from global markets including Hong Kong because of the European debt crisis, warned Secretary for Financial Services and the Treasury Professor Chan Ka-keung.

Chan said that while banks in Hong Kong did not have big holdings of European sovereign debt, the impact of the crisis on them related to the funding issue.

7 Dec 2011 - 12:00am

Young staff members need to stop whining and start working

It seems the generation gap is getting even wider in the workplace. Many youngsters complain they have no luck in landing good jobs, and that even if they do find one, it lacks prospects for advancement.

Speaking with employers or senior executives of companies, another story emerges - the difficulty in finding good junior staff.

Here are some classic examples.

29 Nov 2011 - 12:00am

'King of diamonds' a cut above

'Diamonds are forever,' sang Shirley Bassey, and Laurence Graff could not agree more. The British jeweller sells diamonds to billionaires, royalty and even movie stars like the late Elizabeth Taylor, whose jewellery collection was legendary.

21 Nov 2011 - 12:00am

Investor-protection measures now too onerous for buyers

Ashley Alder, the new chief executive of the Securities and Futures Commission (SFC), made his maiden speech to the fifth annual conference of the Hong Kong Investment Funds Association last week.

1 Nov 2011 - 12:00am

SFC wants trio banned from being directors

The Securities and Futures Commission is seeking a ban on three former EganaGoldpfeil (Holdings) (EHL) directors for alleged misconduct. The SFC also wants the Court of First Instance to order David Wong Wai-kwong, Peter Lee Ka-yue and Chik Ho-yin to pay HK$2.13 billion in compensation to EHL.

2 Aug 2011 - 12:00am

Pages