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..

Huishan saw nearly all its board members quit weeks after its stock price mysteriously plunged 85 per cent in the space of just 90 minutes. Photo: AP

SFC halts trading in Huishan Dairy shares in rare move

In a rare move, Hong Kong’s securities watchdog ordered the suspension of trading in the shares of China Huishan Dairy Holding, amid signs that the troubled dairy operator’s financial woes are far from coming to an end.