SFC | South China Morning Post
  • Sat
  • Mar 28, 2015
  • Updated: 10:59pm


The Securities and Futures Commission (SFC) is an independent statutory body set up in 1989 to regulate the city’s securities and futures markets. It works to ensure orderly securities and futures market operations, to protect investors and help promote Hong Kong as an international financial centre and a key financial market in China. It is funded by levies on transactions conducted on the Stock Exchange of Hong Kong and the Hong Kong Futures Exchange, and by licence fees..

SFC needs to stay close to Central

The SFC could find cheaper office rental alternatives close by if it moves out of the Cheung Kong Center. Photo: Bloomberg

Some lawmakers have urged the Securities and Futures Commission to put its money to better use by moving out of the pricey Central business district, but that could be a bad idea

Monday, 16 March, 2015, 9:12pm 4 comments

SFC action against CMR serves as test case for HK laws involving mainland China firms

China Metal Recycling has operations in Hong Kong and Macau, but its most valuable assets are in mainland China. Photo: Reuters

The Securities and Futures Commission is set to take landmark legal action today against China Metal Recycling (Holdings) in a court case that will test laws to sanction mainland Chinese firms listed in the city.

23 Feb 2015 - 8:38pm 1 comment

Securities and Futures Commission has spun out of control

Moody's was fined by the SFC for breaching the code of conduct by publishing a report titled "Red Flags for Emerging Market Companies: A Focus on China".

I just don't understand these people at Moody's. Here they were four years ago still facing awkward questions about whether they foresaw the 2008 financial crisis and they decided to come up with a new ratings tool.

4 Jan 2015 - 6:53am 3 comments

MTR's disregard for law shames the SFC

The announcement of further delays with a HK$2.8 billion increase in costs is clearly price-sensitive information and that the MTR's directors told only one shareholder, the government, through a Legco subcommittee.

Let me tell you about the Securities and Futures (Amendment) Ordinance 2012, which the Securities and Futures Commission pushed into law two years ago.

25 Nov 2014 - 5:27am 8 comments

Time to call SFC's bluff in this case

Ashley Alder, chief executive of the SFC. SFC only has uninformed suspicion in the case. Photo: David Wong

Let's get the facts of the case straight here before we marvel at how the SFC's ways of passing sentence can make hanging judges look like angels of mercy.

6 Nov 2014 - 6:08am 3 comments

SFC hopes through train wait, with rules settled, won't be too long

The SFC says protecting investors from possible misconduct across the border was vital. Photo: Reuters

Vital rules for compensating wrongdoing under a scheme to directly link Hong Kong and Shanghai stock markets have been agreed as part of a broad plan to solve regulatory problems created by cross-border trading.

30 Oct 2014 - 4:59am

SFC turns a blind eye to the real wrongdoers

The sad fact is that our SFC has betrayed us to the brave new world's ways of tilting that playing field.

Let me tell you where they lurk as the story here is a little different from how the SFC presents it in these George Bush-style tones of indignation.

14 Oct 2014 - 4:48am 1 comment

Hong Kong securities watchdog to tighten rules on sale of risky products

Ashley Alder said the suitability requirement is a cornerstone of investor protection.

The Securities and Futures Commission will tighten regulations on the sale of complex and risky products by financial firms to so-called professional investors from March 2016 in a bid to enhance investor protection.

26 Sep 2014 - 5:09am

SFC's legal action against Citic a reassuring sign

SFC's legal action against Citic a reassuring sign

The authorities have launched actions in some high-profile cases of insider trading and market misinformation to punish wrongdoers, compensate investors and safeguard Hong Kong's reputation for a level playing field.

25 Sep 2014 - 8:41am

SFC action hands ex-Citic Pacific directors a get-out-of-jail-free card

To begin the MMT proceeding, the SFC has to secure the consent of the Secretary for Justice.

Former Citic Pacific chairman Larry Yung and the company's then-directors are unlikely to face criminal prosecution for telling the market its finances were in good shape as it suffered a HK$15 billion trading loss in 2008.

13 Sep 2014 - 8:32am 4 comments

SFC's civil action against Citic is a good first step

Larry Yung

The decision by the Securities and Futures Commission to take action against Citic comes as a welcome surprise.

13 Sep 2014 - 4:47am

Under-fire Citic seeks legal advice on SFC's HK$1.9 billion lawsuit

The SFC is suing Citic and five former directors. Photo: Reuters

State-backed conglomerate Citic is seeking legal advice on a HK$1.9 billion lawsuit brought by the SFC against it and five former directors for their failure to disclose massive forex losses in 2008.

13 Sep 2014 - 3:00pm 1 comment

SFC launches legal action against Citic to demand compensation for investors

Former bosses Larry Yung (left) and Henry Fan. Photos: Reuters

The SFC yesterday requested a court order against state-backed conglomerate Citic and five former directors, including chairman Larry Yung, seeking a total of HK$1.9 billion in compensation for 4,500 investors.

12 Sep 2014 - 10:46am 1 comment

SFC suffers wider loss, but still a rich regulator

The SFC should consider levying a fixed fee on Hong Kong Exchanges and Clearing, which it regulates, instead of charging investors base on market turnover. Photo: Felix Wong

The Securities and Futures Commission may have seen its loss widen last quarter but it is still too rich as a regulator.

25 Aug 2014 - 11:32pm

Overpaid box tickers at SFC leave us none the wiser about price-sensitive information

Overpaid box tickers at SFC leave us none the wiser about price-sensitive information

Ask and you shall receive. The Bible says so, the Securities and Futures Commission complied and the prophecy was fulfilled beyond expectation.

20 Jul 2014 - 4:13am 2 comments