SFC

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..

Departing SFC enforcement chief a hard act to follow

The Securities and Futures Commission's outgoing executive director Mark Steward denies he was an aggressive regulator. Photo: May Tse

It may sound trite to say Hong Kong's loss is London's gain. But that could prove true for investor protection if the Securities and Futures Commission is not successful in its global search for a successor who can fill the shoes of Mark Steward, its departing enforcement chief. 

Friday, 28 August, 2015, 1:55am 1 comment

Rogue stock investors have no place to hide, says Hong Kong's market regulator Mark Steward

SFC executive director Mark Steward. Photo: May Tse

Stock-market manipulators who think they can exploit gaps in cross-border regulation will find there is "no place to hide", the outgoing enforcement chief of the Securities and Futures Commission has warned.

21 Aug 2015 - 8:20pm

Mark Steward – a look at the record of a white collar crime fighter in Hong Kong's SFC

Mark Steward, Executive Director, Enforcement Division, Securities and Futures Commission in Hong Kong. Photo: Sam Tsang

The Securities and Futures Commission’s white collar crime fighter Mark Steward is busy with farewell meetings in the business sector and media during his last few weeks at the commission, and it is time to review the man and what he has done for the Hong Kong market.

20 Aug 2015 - 1:01pm

SFC tells Hong Kong Exchange to rethink dual-share structure reform

Carlson Tong says pressure to secure tech listings was behind dual-share structure reform, but the market has changed. Photo: David Wong

Securities and Futures Commission chairman Carlson Tong Ka-shing says the stock exchange should reconsider the need for further consultation on listing reforms that would permit dual-share structures.

26 Jun 2015 - 11:02pm

Hong Kong regulator confirms probe into Hanergy despite boss' denial

Li Hejun

The securities regulator yon Thursday confirmed it is investigating Hanergy Thin Film Power Group, hours after chairman Li Hejun dismissed rumours of a probe.

29 May 2015 - 8:31am 1 comment

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

16 Mar 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

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

Pages