Hong Kong’s SFC Releases Annual Report 2020-21

The Securities and Futures Commission of Hong Kong (SFC) highlighted its key achievements for the year today in its annual report 2020-21. The regulatory authority approved 188 collective investment schemes and 146 unlisted structured investment products for public offering during the mentioned period.

According to an official announcement, SFC’s total number of licensees and registrants jumped to 47,178. The total number of licensed corporations spiked to 3,159. In terms of market surveillance and transparency, SFC made 8,748 requests for trading and account records from intermediaries.

The commission mentioned that it has increased its efforts to counter corporate fraud and other misconducts. SFC aims to tackle different online fraudulent schemes in partnership with the Hong Kong Police Department.

Commenting on the latest report, Tim Lui, Chairman of the SFC, said: “Our core mission is to strengthen Hong Kong’s competitiveness and uphold fair and orderly markets in which investors can have full confidence. The success of Stock Connect and other mutual market access schemes showcase the unique role Hong Kong plays in intermediating global capital between a rapidly developing China and the rest of the world, and this will only increase in importance in the coming years.”

Other Highlights

During the last 12 months, SFC took different initiatives for Green and Sustainable Finance. Additionally, the commission took steps to strengthen the position of Hong Kong as an asset and wealth management Hub Hub A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method Read this Term. Regrading digital asset trading, SFC granted the first license to a virtual asset Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term in Hong Kong. “Delivering on our objectives in a challenging environment requires that we remain flexible and stand ready to recalibrate our operations and priorities. However, the essential attributes of Hong Kong’s regulatory system remain unchanged, as do our core values of independence, integrity and public accountability.” Ashley Alder, Chief Executive Officer at SFC, commented on the latest report.

In the last 12 months, SFC imposed a total of $2.81 billion in fines for intermediary misconduct.