Sales of collective investment schemes in Hong Kong dropped by 15% from HK$65bn (US$8.4bn) to HK$55bn during the period April 2015-March 2016, according to the SFC’s yearly survey.
Tag: Securities and Futures Commission
HK fee transparency plan could hit alts
The proposal to enhance fee disclosures should not have a big impact on banks and fund houses, but may impact the small intermediaries, according to industry players.
HK and Singapore in push for fee transparency
Following Singapore, Hong Kong’s Securities and Futures Commission has proposed that fund distributors cannot call themselves independent if they are receiving commission from distributing funds, and they need to state the fee amount at the point of sale.
SFC fines ex-fund house employee
For failing to declare commission and an improper know-your-customer process, the Securities and Futures Commission has banned Benedict Ku Ka-tat for one year and fined him HK$150,000 ($19,340).
CSRC acts on illegal Stock Connect trades
The China Securities Regulatory Commission has made its first crackdown on an illegal transaction via the Shanghai-Hong Kong Stock Connect.
HK bans former UOB rep for 10 years
The Securities and Futures Commission has banned Lawrence Lai from re-entering the markets for 10 years after misconduct in trading led to a HK$50m ($6.45m) loss in 2011.
HK bans short-seller for five years
The Hong Kong Market Misconduct Tribunal ruled that Andrew Left, the founder of Los Angeles-based short-seller Citron Research, has to repay HK$1.6m ($206,250) of net profits from short-selling China Evergrande Group in 2012.
Life-ban for former HSBC relationship manager
Hong Kong’s SFC disqualifies Chen Chia-hui from the financial services industry following her bribery conviction.
HK suspends BOCOM Intl broker
The SFC suspended Ku Yuen-leung, an account executive at BOCOM International Securities, for manipulating stock prices.
SFC bans ex-Wing Lung manager for life
Hong Kong’s Securities and Futures Commission banned
Liu King-yee, a former securities service manager, after she was convicted of fraud.
