Author: JML

Hong Kong Recent Enforcement Actions: Cases and Consequences

By JML

Hong Kong Recent Enforcement Actions: Cases and Consequences

This article provides an overview of recent enforcement cases noteworthy to listed companies in Hong Kong, categorized by the nature of misconduct rather than the regulatory authorities responsible. Drawing on actions by the Securities and Futures Commission (SFC), The Stock Exchange of Hong Kong Limited (HKSE), the Independent Commission Against Corruption (ICAC), the Hong Kong Competition Commission, and the Companies Registry, it covers topics like breaches of directors’ duties, internal control failures, market misconduct, fraud, corruption, anti-money laundering violations, competition law breaches, company law compliance, and investor compensation cases. This thematic approach highlights common compliance challenges and the critical need for robust governance to protect market integrity and investor interests.

Recent Enforcement Cases_JML_20250425

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Practical Essentials for Hong Kong IPO Preparation – Key Considerations for Private Equity and Venture Capital Investors

By JML

This article provides an overview of the specific requirements and procedures and positioning considerations in respect of the listing of shares on the Hong Kong Stock Exchange, and compares the different requirements of listing on the Main Board, GEM and specific listing channels (including Chapters 18A, 18B and 18C), to assist institutional investors understand the advantages and special features of the Hong Kong stock market, as well as the essentials for a successful listing.

JML202504111712 香港上市准备实务要点 - 私募与风投机构的关键考量

Financial Services Regulatory Update 2025/03/21

By JML
  • Hong Kong Independent Commission Against Corruption’s Promotion and Enforcement for Integrity in the Banking Industry
  • U.S. Law Firm Fined GBP300,000 by Solicitors Disciplinary Tribunal of England and Wales for Anti-money Laundering Breaches
  • Hong Kong Securities and Futures Commission Suspends Finfluencer for Unlicensed Investment Advice
  • Hong Kong Securities and Futures Commission Releases Quarterly Report Showing Strong Momentum in Hong Kong’s Capital Markets Towards End of 2024
  • Hong Kong Insurance Authority Secures First Conviction Against Licensed Insurance Broker for Failure to Submit Audited Financial Statements
  • The China Securities Regulatory Commission Issues “Guideline No. 11 on the Supervision of Listed Companies — Matters Related to the Bankruptcy Reorganization of Listed Companies
  • Hong Kong Accounting and Financial Reporting Council Publishes Report Digest: Reminders for 2024/25 Year-End Audits
  • Hong Kong Exchanges and Clearing Limited Signs MOU with CMU OmniClear to Enhance the Post-Trade Securities Infrastructure of Hong Kong’s Capital Markets
  • OTC Clearing Hong Kong Limited to Accept China Government Bonds, Policy Bank Bonds as Collateral for All Derivatives from 21 March 2025
FS_Regulatory_Update_JML 20250321

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Financial Services Regulatory Update 2025/02/28

By JML
  • Hong Kong Securities and Futures Commission Unveils New Roadmap to Develop Hong Kong as a Global Virtual Asset Hub
  • Hong Kong Green and Sustainable Finance Cross-Agency Steering Group Sets 2025 Priorities to Support Growth of Sustainable Finance in Hong Kong
  • The Hong Kong Securities and Futures Commission Flags Cybersecurity Incidents Involving Licensed Firms that Resulted in Business Disruptions in Thematic Review Report
  • The Hong Kong Accounting and Financial Reporting Council Study Advocates for Improved Sustainability Assurance Practices and Urges Auditors to Incorporate Climate Risks in Financial Audits
  • Hong Kong Securities and Futures Commission Concludes Consultation on Proposals to Pave Way for Fully Digitalized Public Offerings
  • Hong Kong Securities and Futures Commission Reprimands and Fines Hang Seng Bank Limited HK$ 66.4 Million for Misconduct in Selling Practices of Investment Products
  • London Metal Exchange Approves Hong Kong as a Delivery Point, Expanding Global Commodity Market Access
  • International Monetary Fund Acknowledges Hong Kong’s Economic Recovery and Resilient Financial System Amid Global Challenges
  • Hong Kong Securities and Futures Commission Supports Listing of Alternative Funds to Broaden Investor Choice and Bolster Market Development
  • Hong Kong Gazettes Subsidiary Legislation to Implement Uncertificated Securities Market Regime for Enhancing Market Efficiency
  • Hong Kong Intellectual Property Department Launches Revised Trade Marks, Patents, and Designs Forms Effective May 2025
  • Hong Kong Companies Registry Implements Key Legislative Reforms Effective April 17, 2025

 FS_Regulatory_Update_JML 20250228

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Financial Services Regulatory Update 2025/01/25

By JML
  • Hong Kong OTC Market Expands Collateral Options to Include China Government Bonds and Policy Bank Bonds for Derivatives
  • The Stock Exchange of Hong Kong Limited Publishes Conclusions on Further Paperless Listing Reforms
  • Hong Kong Monetary Authority Launches Digital Bond Grant Scheme to Advance Securities Market Innovation
  • Hong Kong Securities and Futures Commission Issues Circular on Listed Structured Funds
  • Hong Kong Enhances New Capital Investment Entrant Scheme to Attract Global Investors
  • Hong Kong Legislative Council Passed the Companies (Amendment) Bill 2024 to Establish a Treasury Share Regime and Promote Paperless Corporate Communication for Both Listed and Unlisted Hong Kong Companies
  • Hong Kong Process Review Panel for the Accounting and Financial Reporting Council Publishes 2023-24 Annual Report
  • Hong Kong Accounting and Financial Reporting Council Gives its First Direction for Additional Continuing Professional Development in Accounting Firm Disciplinary Case
  • The Securities and Futures Commission of Hong Kong Extends Swift Licensing Process for Virtual Asset Trading Platform Applicants
  • New Initiatives between the Hong Kong Monetary Authority and the People’s Bank of China – Strengthened Financial Cooperation Between Hong Kong and Mainland China
  • Tender of 10-year Hong Kong Dollars Hong Kong Special Administrative Region Government Institutional Government Bonds
  • Hong Kong Outlines Sustainability Disclosure Roadmap to Enhance Green Finance Standards
  • Hong Kong Exchanges and Clearing Limited and Cathay Pacific Airways Limited Settle Carbon Credits on Core Climate Marketplace
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Financial Services Regulatory Update 2024/12/20

By JML
  • Hong Kong Government Publishes Stablecoins Bill to Establish Regulatory Framework for Stablecoins
  • The Stock Exchange of Hong Kong Limited Concludes Consultation on Review of the Corporate Governance Code and Related Listing Rules, with Changes Applicable to Corporate Governance Reports and Annual Reports for Financial Years Commencing on or after July 1, 2025, and Updates its New ESG Regulatory Focuses
  • The Stock Exchange of Hong Kong Limited Presents Results of Review of Issuers’ 2023 Annual Reports and Publishes New Comprehensive Guidance
  • The Stock Exchange of Hong Kong Limited Releases the 2024 Analysis of ESG Practice Disclosure
  • Hong Kong Securities and Futures Commission Publishes Quarterly Report on Greater Connectivity Driving Hong Kong’s Capital Markets Forward
  • Hong Kong Exchanges and Clearing Limited Introduces New Post-Trade Services on Orion Cash Platform – Technically Ready to Support T+1 Settlement by End of 2025
  • Hong Kong Exchanges and Clearing Limited Introduces Fund Repository on Integrated Fund Platform, enhancing transparency of fund information
  • Hong Kong Court Verdict on Conspiracy to Defraud Listed Issuer, its Board and Shareholders over Secret Backdoor Listing
  • Hong Kong Market Misconduct Tribunal Sanctions Former Chairman and CEO of China Forestry Holdings Company Limited for Market Misconduct, Ordering the Former CEO to Disgorge a Substantial Sum of HKD 353,430,000
  • Hong Kong Government Launches Roadmap on Sustainability Disclosure in Hong Kong
  • Hong Kong Government Welcomes Passage of Stamp Duty Legislation (Miscellaneous Amendments) Bill 2024
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Financial Services Regulatory Update 2024/11/29

By JML
  • Hong Kong Government Amended Stamp Duty Legislation to Waive the Stamp Duty Payable on the Transfer of Units of Real Estate Investment Trusts and the Jobbing Business of Options Market Makers, and to Provide for a Revised Stamp Duty Collection Arrangement Upon the Implementation of the Uncertificated Securities Market Regime in Hong Kong
  • Hong Kong Government Welcomes First Batch of Brokers Joining Cross-Boundary Wealth Management Connect
  • Hong Kong Exchanges and Clearing Limited to Digitalize Exchange-Traded Products Servicing Capabilities with Online Platform
  • Hong Kong Securities and Futures Commission Holds Forum to Encourage Responsible Regtech Adoption for Anti-money Laundering and Counter-financing of Terrorism
  • Hong Kong Securities and Futures Commission Sets Out Vision to Foster a Vibrant Fintech Ecosystem in Hong Kong
  • Hong Kong Securities and Futures Commission and the Independent Commission Against Corruption Jointly Combat Share Options Fraud
  • Hong Kong Accounting and Financial Reporting Council Publishes 2023-24 Annual Report
  • Hong Kong Monetary Authority Penalizes Fubon Bank (Hong Kong) Limited for Anti-Money Laundering Failures
  • Hong Kong Securities and Futures Commission Concludes Consultation and Publishes Guidelines for Market Soundings Which will Come into Effect on May 2, 2025
FS_Regulatory_Update_JML 20241129

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Financial Services Regulatory Update 2024/10/25

By JML
  • Hong Kong Securities and Futures Commission Flags Asset Manager Misconducts in Managing Private Funds and Discretionary Accounts
  • Hong Kong Financial Services and Treasury Bureau and Bloomberg Establish Strategic Collaboration to Enhance Hong Kong’s Family Office Ecosystem
  • Hong Kong Securities and Futures Commission and The Stock Exchange of Hong Kong Limited Issues Joint Statement on Enhanced Timeframe for New Listing Application Process
  • Highlights of the Hong Kong Chief Executive’s 2024 Policy Address
  • Hong Kong Securities and Futures Commission Issues Takeovers Bulletin to Remind on Need to Factor in E-Submission System Registration Time and Severe Weather Arrangements
  • Hong Kong Accounting and Financial Reporting Council Calls on Auditors and Audit Committees to Strengthen Independence Safeguards around Procurement and Purchases from Audit Clients
  • Hong Kong Securities and Futures Commission Welcomes Voluntary Code of Conduct for ESG Ratings and Data Products Providers
  • Hong Kong Securities and Futures Commission Implements New Public Fund Depositaries Regime: Key Changes for Hong Kong’s Asset Management Sector
  • Hong Kong Securities and Futures Commission Concludes Consultation on Proposals to Enhance Real Estate Investment Trusts Regime and Securities and Futures Ordinance Market Conduct Regime for Listed Collective Investment Schemes
  • Hong Kong Standing Committee on Company Law Reform Publishes Annual Report Supporting Paperless Corporate Communication for Hong Kong Companies
  • Hong Kong Accounting and Financial Reporting Council Publishes Audit Focus for 2024 Year-end Audits to Remind Auditors of Financial Reporting and Audit Risks
  • Hong Kong Monetary Authority Publishes “Half-Yearly Monetary and Financial Stability Report” to Analyze the Current Hong Kong Financial Conditions
  • Hong Kong Monetary Authority Publishes “Quarterly Bulletin About Regulatory Regime for Stablecoin Issuers in Hong Kong” Promote the Development of Stablecoins
  • Hong Kong Securities and Futures Commission Commences Market Misconduct Tribunal Proceedings Against Dickson Poon
  • CSC Futures (HK) Limited and Zheshang International Financial Holdings Co Fined by Hong Kong Securities and Futures Commission for Regulatory Breaches
  • Hong Kong Financial Services and Treasury Bureau Publishes Consultation Conclusions on Promoting Paperless Corporate Communication for Hong Kong Companies

 FS_Regulatory_Update_JML 20241025

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Financial Services Regulatory Update 2024/09/26

By JML
  • Hong Kong Securities and Futures Commission Secures First-of-its-kind Settlement to Compensate Public Shareholders of Combest Holdings Limited
  • PRC National Financial Regulatory Administration Issued Notices to Expand the Pilot Scope of Equity Investment in Financial Asset Investment Companies from Shanghai to 18 Cities Including Beijing and Shenzhen and Relaxed Restrictions on the Amount and Proportion of Equity Investment
  • Hong Kong Accounting and Financial Reporting Council Emphasizes the Importance of Maintaining the Quality of Cross-Border Audit Services While Noting the Ministry of Finance’s Imposed Administrative Sanctions against Mainland Audit Firm PricewaterhouseCoopers Zhong Tian LLP for its Serious Infractions in the Audit Work on Hengda Real Estate Group Co Ltd.
  • Joint Announcement of the Hong Kong Securities and Futures Commission and the Stock Exchange of Hong Kong Limited in Relation to Modifications to Requirements for Specialist Technology Companies and De-SPAC Transactions; Amendments to the Guide for New Listing Applicants Effective on 1 September 2024
  • Hong Kong Accounting and Financial Reporting Council’s 2024 Oversight Report Identifies Improvement Areas for the HKICPA to Support the Development of the Accounting Profession
  • Hong Kong Securities and Futures Commission Announces Arrangements to Facilitate Distribution of Research Reports of Eligible ETFs under Stock Connect
  • Hong Kong Monetary Authority Launches Project Ensemble Sandbox to Promote Tokenization in Hong Kong with Hong Kong Securities and Futures Commission
  • Hong Kong Securities and Futures Commission Releases Quarterly Report: Hong Kong Sees a Quarter of Broad Market Growth, Firmer Ties and Regulatory Progress
  • Hong Kong Securities and Futures Commission, Hong Kong Independent Commission Against Corruption and Macao Judiciary Police Conduct Joint Operation Against Suspected Cross-Boundary Fraud and Misconduct in Listed Company
  • Hong Kong Securities and Futures Commission Releases New Quick Reference Guides for Visiting and Returning Professionals to Highlight Pragmatic Licensing Options
  • The Hong Kong Monetary Authority Fines WeChat Pay Hong Kong Limited for Anti-Money Laundering Lapses
  • Hong Kong Exchanges and Clearing Limited Introduces Gold Standard’s Verified Emission Reductions

 FS_Regulatory_Update_JML 20240926

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