SFC issues second-quarter report

7 Dec 2015



The Securities and Futures Commission (SFC) today published its Quarterly Report summarising key developments from July to September 2015.

Among the highlights featured in the report was the launch of the Mainland-Hong Kong Mutual Recognition of Funds scheme on 1 July. A symposium was organised to provide further details to the industry and discuss opportunities presented by the scheme.

The SFC’s Intermediaries Division was reorganised during the quarter to allow for greater specialisation and a more proactive supervisory focus around key market segments.

In July, the SFC launched a consultation on proposed changes to financial resources rules for licensed corporations. In September it began a joint consultation with the Hong Kong Monetary Authority on mandatory clearing and reporting for over-the-counter derivatives transactions.

The SFC’s annual Fund Management Activities Survey for 2014, released in July, showed that Hong Kong’s combined fund management business experienced 10.5% growth year-on-year.

The SFC received 2,416 licence applications this quarter, up 20% from the same period last year. Sixty-one listing applications were received under the dual filing regime, an annual increase of 35%.

On the enforcement front, three licensed corporations were disciplined, resulting in total fines of $19.9 million. The SFC also started the first-ever proceedings in the Market Misconduct Tribunal over a listed company’s breach of its obligation to announce inside information.

The report is available on the SFC website under "Published resources> Corporate publications> Quarterly reports".

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Page last updated : 7 Dec 2015