On 19 December 2014, the Securities and Futures Commission (the “SFC”) launched a consultation on proposed amendments to the Securities and Futures Ordinance (the “SFO”), relating to supervisory assistance to overseas regulators.
The proposed new powers will enable the SFC to:
- obtain records and documents from a licensed corporation or a related corporation of a licensed corporation that are otherwise not available to the overseas regulator, and
- make enquiries about such records and documents and related transactions and activities.
Regulated entities which operate in multiple jurisdictions will need to consider the implications of the proposed new supervisory powers.
This briefing from our team in Hong Kong provides more detail on the proposals.
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