YTL LLP’s Post

Hong Kong’s capital markets showed some positive signs of recovery in 2024, according to a recent report by the city’s securities regulator, the Securities and Futures Commission (SFC), which pointed to an increased use of cross-boundary schemes as a major driving factor. Read the full article: https://hubs.la/Q02_yn0L0

To enhance Hong Kong’s competitiveness as a leading trading and risk management hub, HKEX, with support from the HKSAR Government and regulatory authorities, has completed a market consultation. Effective September 23, 2024, Hong Kong's securities and derivatives markets will remain open during severe weather conditions, ensuring continued trading, clearing, and settlement services. To prioritize safety, remote working and the use of online services are highly encouraged on Severe Weather Trading (SWT) days, and all public-facing physical outlets will be closed to provide services. Stay informed and be prepared for any requirement that may come with this new measure. Keep an eye on our market announcements and guidelines to ensure a smooth transition! #GCCConsulting #HKEX #SevereWeatherTrading #SWT #MarketUpdates #TradingUpdate #HongKongStockExchange #FinancialNews #TradingStrategies #FinancialInstitutions #StockMarketNews #RegulatoryApproval #WeatherImpact

The city’s asset and wealth management activities also rebounded this year. A previous SFC survey showed that the overall AUM of Hong Kong’s asset and wealth management business grew 2% year-on-year in 2023, while net fund inflows surged 342%. Investors outside mainland China and Hong Kong have consistently accounted for 54% to 56% of total AUM in the past five years, while 60% of the assets managed in Hong Kong are allocated to overseas markets.🇭🇰💰📈

The Securities and Futures Commission (SFC) has published the Guidelines for Market Soundings (Hong Kong Market Sounding Guidelines) which will take effect on 2 May 2025, six months after their gazettal on 1 November 2024 Read more: https://cutt.ly/qeKjgaR2 #HKRegulations #MarketSoundings #SFC #FinancialServices #Confidentiality #InvestmentGuidelines #Compliance #HongKongFinance #MarketIntermediaries #SecuritiesLaw

Check out this insightful article on the HKMA rewrite. I encourage you to read it and share your thoughts

【GCC News】 The Securities and Futures Commission (SFC) has commenced criminal proceedings against Segantii Capital Management Limited (Segantii), its director and chief investment officer Mr. Simon Sadler, and former trader Mr. Daniel La Rocca for the offence of insider dealing in the shares of a company listed on the Stock Exchange of Hong Kong Limited prior to a block trade in June 2017. Key Take-away: 1. All licensed or registered persons should comply with the Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission (Code of Conduct). According to paragraph 9.3 of the Code of Conduct, a licensed or registered person should have procedures in place to ensure that its employees do not deal (for the benefit of the licensed or registered person, the employee or a client) in securities or futures contracts where the employee concerned effects the dealing in order to “front-run” pending transactions for or with clients, or on the basis of other non-public information which would be expected to materially affect prices of those securities or futures contracts and which is to be released to the market. 2. The main pieces of legislation in Hong Kong that are concerned with insider dealing are Sections 270 and 291 of the Securities and Futures Ordinance (SFO). It is very important that FIs and their officers and staff fully understand their respective responsibilities under the legislation. Please see the SFC’s statement here. https://lnkd.in/e5xfUryE #SFC #InsiderDealing #SegantiiCapitalManagement #HongKongFinance #MarketIntegrity #Compliance #CodeofConduct #SecuritiesandFuturesOrdinance

Another day another regulatory rewrite, this time HKMA! Read our newest article to understand how the Hong Kong Monetary Authority and the Securities and Futures Commission are enhancing financial stability in Hong Kong and what it means for your firm. If you would like to have a conversation to explore how this impacts you, please reach out. We can help. #FirstDerivative

📢 Exciting Update: The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) are joining forces to align with global standards! 🌏✨   Dive into our latest insight where we explore the collaborative efforts of HKMA and SFC in modernising regulatory frameworks to enhance financial stability and integrity in Hong Kong. Discover how these changes will impact the financial landscape and what it means for industry stakeholders.   🔗 Read in full here: https://lnkd.in/eWVFaK4c   #Finance #HKMA #SFC #GlobalStandards #FinancialStability #RegulatoryReform #FirstDerivative

The Hong Kong #SFC has announced new #MarketSounding #Guidelines, effective May 2025, which will impact how #PrivatePlacements / #BlockTrading desks that manage sensitive pre-sounding discussions. These guidelines align closely with key principles established by regulators in other jurisdictions, such as the #FCA in the #UK and #ESMA in #Europe. The SFC’s rules focus on protecting Market Sounding Information (#MSI) - details like transaction size, pricing (e.g. premium/discount), timing, the identity of the Market Sounding Beneficiary, and the name of the security - during pre-sounding discussions. These details must be handled with safeguards to prevent misuse or leakage. For private placements / blocks trading - this means revisiting how pre-transaction conversations are conducted and ensuring clear processes and controls are in place. COMPARISON TO UK & EU GUIDANCE Hong Kong’s approach is broadly consistent with the #FCA and #ESMA, ensuring clear processes for managing sensitive information. Common themes across the three jurisdictions include: #Confidentiality - Protect sensitive details like transaction size and timing to prevent leaks or misuse. #Scripts - Use standardised scripts to guide conversations and secure consent BEFORE sharing specifics. #Recordkeeping - Maintain clear records of consents, communications, and individuals with access to sensitive information. #Cleansing - Recognise when information becomes "stale" (e.g. after deal completion or cancellation) to release confidentiality obligations. #Recipient #Obligations - Recipients of market soundings must independently assess whether they hold insider information and refrain from trading if they do. #FnzMarkets #FnzGroup #FNZ This post is for informational purposes only and reflects my personal observations, not to be taken as legal advice.

SFC and CSRC hold high-level enforcement cooperation meeting The Securities and Futures Commission (SFC) and the China Securities Regulatory Commission (CSRC) recently held their 16th regular high-level meeting on enforcement cooperation. The focal point of the meeting in Kunming, Yunnan Province, was initiatives to strengthen collaboration. The two regulatory agencies conducted in-depth discussions on bolstering enforcement cooperation in order to tackle cross-boundary securities crimes and misconduct more effectively, protect the interests of investors in Hong Kong and the Mainland, and reinforce Hong Kong's status as an international financial centre. During the meeting, the two sides updated each other on their enforcement priorities, trends and progress, as well as the successful outcomes of their enforcement cooperation. Both parties also had productive dialogues on several key issues related to cross-boundary enforcement cooperation, including: ·exploring ways to strengthen cross-boundary enforcement cooperation against securities crimes and misconduct, with a view to achieving higher efficiency and comprehensive outcomes; ·sharing the process for handling cases involving suspicious transactions and discussing the mechanism for referral of intelligence; ·discussing the latest trends in ramp-and-dump market manipulation activities; and ·sharing insights into the effective use of advanced technologies to enhance enforcement outcomes. #SFC #HongKong #CSRC #Internationalfinancialcentre #China