The Hong Kong Securities and Futures Commission's (SFC) proposal for sweeping enforcement-related reforms would significantly impact the regulatory landscape in Hong Kong. If the proposals are adopted as drafted, firms and individuals will need to prepare themselves for the more aggressive enforcement action and potentially greater financial consequences.
Our detailed e-bulletin on the proposed reform covers, (i) amendments to section 213 of the Securities and Futures Ordinance which, if adopted, would significantly enhance the SFC's ability to obtain investor compensation orders against firms or individuals who have committed wrongdoing; (ii) amendments to the ambit of the professional investor exemption in respect of the offer of investments regime which, if adopted, would limit the exemption to unauthorised investment advertisements issued only to professional investors; and (iii) an expanded insider dealing regime which, if adopted, would allow the SFC to tackle cross-border insider dealing offences more effectively. Click here to read the ebulletin.
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