SFC launches new register of cold shoulder orders

21 May 2015



The Securities and Futures Commission (SFC) today launched a new public register of cold shoulder orders to facilitate compliance by intermediaries when dealing with clients who are subject to these sanctions (Note 1).

The new register, which can be accessed under the Alert List on the homepage of the SFC’s website, contains the names of those who are the subjects of current cold shoulder orders made by the courts, the Market Misconduct Tribunal (MMT) or the Takeovers Panel (Note 2).

Intermediaries are encouraged to refer to the list from time to time to ensure compliance with the orders.

The Alert List also includes a table of disqualification orders made against directors of companies and a link to “Have you seen these people?” which contains information of individuals being sought by the SFC in relation to its investigations or enforcement inquiries (Note 3).

"Successful enforcement relies upon the cooperation of market participants and we hope the new register will make those who are prohibited from trading in Hong Kong or disqualified from acting as company directors more readily identifiable," said the SFC’s Executive Director of Enforcement, Mr Mark Steward.

End

Notes:

  1. A cold shoulder order is a sanction that prevents a person from trading in Hong Kong for a stated period.
  2. Names on the lists will be deleted once the period of prohibition or disqualification is completed. 
  3. A disqualification order, which prohibits someone from being a director of corporation, carries a maximum term of 15 years.
  4. SFC today issued a circular to licensed corporations, licensed representatives and registered institutions regarding the new register and inquiries in relation to cold shoulder orders.


Page last updated : 6 Jul 2015