The Securities and Futures Commission and the China Securities Regulatory Commission today said they have signed a cooperation pact for the initiative and agreed on the implementation principles. “The mutual recognition of funds initiative is a major breakthrough in the opening up of the mainland’s funds market to offshore funds,” the SFC’s chairman Carlson Tong […]
Tag: SFC – Securities and Futures Commission
SFC reveals public list of ‘cold shoulder’ orders
The new register, displayed on the homepage of the SFC’s website, names persons or companies who are the subjects of current cold shoulder orders made by the courts, the market misconduct tribunal or the takeovers panel. New York-based Tiger Asia Management is one such company appearing on the list. The hedge fund was slammed with a […]
Baring launches three Hong Kong-domiciled funds
Slated to officially launch on Thursday, 7 May, the three funds made in Hong Kong are the Baring European Equity Income fund, the Baring Greater China Equity fund and the the Baring Global Multi Asset Income fund. The European income fund, based on an existing Baring fund sold in Japan, was launched locally because of the […]
Investors to recoup $25m from Hong Kong hedge fund collapse
The Securities and Futures Commission has recovered HK$191m ($24.6m) of assets from the Cayman-domiciled Athena Fund, which was a product from asset manager Descartes Athena Fund SPC. “The SFC alleges the Athena Fund was an outright fraud,” said Mark Steward, the SFC’s executive director of enforcement. “Our action to have the assets frozen prevented them […]
HKG court upholds fund advertising decision
Fund advertisements can be issued to the general public even if the issuer only intends to sell the product to professional investors, according to Hong Kong authorities.
Hong Kong slaps ban on JP Morgan broker
Luo Jianglan has been banned from working in the financial industry for six months due to violation of short selling procedures and moves to conceal the breach.
Hong Kong bans StanChart RM for life
Regulators found that a relationship manager at the bank made fund transactions without client’s consent in order to meet his sales targets.
Hong Kong bans Ping An CEO
The Securities and Futures Commission found that He Zhi Hua, former CEO of Ping An of China Securities, failed to ensure the firm had adequate internal control procedures.
Leung to take over senior Hong Kong regulator post
Hong Kongs Securities and Futures Commission has appointed Julia Leung as executive director of the investment products division, replacing Alexa Lam who plans to retire.
Asias total AUM up
Asia’s asset management industry is the fastest growing in the world, though AUM remains small compared to developed regions, according to a new report on the industry by Hong Kong’s Securities and Futures Commission.
