GCC Capital

Volume 10 of Compliance Pioneer is here! 🚀 Hong Kong continues to thrive as a global financial hub with enhanced regulatory frameworks, cross-border collaboration, and innovative developments. Here's what this issue covers: 🔹 Strengthened Cross-Border Ties: Insights from SFC's meetings with top management from SAFE, PBoC, Ministry of Finance, and CSRC in Beijing, highlighting cooperation and mutual growth. 🔹 Mutual Recognition of Funds: Enhancements take effect on 1 January 2025, boosting capital market access between Hong Kong and Mainland China. 🔹 Regulatory Updates: Revised BRMQ and new reporting tools for RA13 intermediaries to bolster risk management. Updated OTC derivatives reporting standards effective 29 September 2025. 🔹 Market Integrity: SFC’s review of SEHK’s listing regulation performance, including progress and areas for improvement. 🔹 Investor Protection: SFC's warning against unauthorized investment product ads. Licensing of virtual asset trading platforms under stringent assessments. 🔹 Sustainability and Innovation: HKEX’s 2024 achievements, Core Climate's role in carbon credit settlements, and AI-driven regulatory solutions by HKMA. Stay ahead of compliance and market innovation—empowering sustainable growth in Hong Kong’s financial ecosystem!

🚨 Regulatory Enforcement Alert 🚨 The Securities and Futures Commission (SFC) has disciplined Ever-Long for severe misconduct as a sponsor under the Code of Conduct for Sponsors. 🛑 🔑 Key Findings: ✅ Due Diligence Failures: Ever-Long neglected to conduct adequate checks on Coastal’s Chartering Arrangement, including its Top Customer’s lack of a necessary bunker craft operator license, exposing risks of legal breaches. ✅ Inaccurate Disclosures: Failed to verify financial disclosures in the Application Proof, including deemed connected transactions. ✅ Delayed Reporting: Only disclosed key material issues to the SEHK after being prompted, violating regulatory requirements. 📜 Breaches Identified: Ever-Long’s actions violated the Code of Conduct and Corporate Finance Adviser Code of Conduct provisions, including due diligence obligations (Paragraph 17.4) and the GEM Listing Rules. Sponsors must act with care, verify information thoroughly, and disclose all material issues promptly. 💡 Takeaway: This enforcement action underscores the critical role of sponsors in ensuring market integrity and investor protection through robust due diligence and full disclosure. #ComplianceMatters #RegulatoryUpdates #InvestorProtection #Finance #SFC

Here’s to a year of growth, impact, and innovation! At GCC Consulting, we’re committed to driving change and creating a brighter, more sustainable future. Happy New Year 2025—let’s make it extraordinary together! 🥂💼 #HappyNewYear #Sustainability #Innovation #ImpactMatters

🚨 Regulatory Enforcement Alert 🚨 The Securities and Futures Commission (SFC) has permanently barred Ng Ka Shun, a responsible officer and sole shareholder of Agg Asset Management Limited (Agg), from the financial industry. He was fined HK$1.7 million for severe regulatory breaches under the Securities and Futures Ordinance (SFO). 🛑 🔑 Key Findings: ✅ Window-Dressing: Misleading the SFC by inflating Agg’s liquid capital to maintain its license for 34 months. ✅ Fraudulent Practices: Mismanagement of two funds involving conflicts of interest, misappropriation of assets, and deceptive activities. Fund A: Invested in debentures tied to entities under Ng’s control, inflating the fund’s net asset value and using proceeds for personal loans. Fund B: Diverted subscription proceeds for personal use, including unapproved cryptocurrency mining, causing significant investor losses. ✅ Investor Risks: Dishonest and negligent conduct that violated multiple regulatory requirements. 💡 The SFC’s decisive action highlights the importance of safeguarding market integrity and protecting investor interests. #ComplianceMatters #InvestorProtection #RegulatoryUpdates #Finance #SFC

Merry Christmas from GCC Consulting As we celebrate this joyful season, we reflect on the warmth of community, the spirit of giving, and the cherished moments shared with loved ones. May your holidays be filled with happiness, peace, and love. We wish you a Merry Christmas and a prosperous New Year! #MerryChristmas #HappyHolidays #GCCConsulting

🚨 Governance & ESG Update 🚨 The Stock Exchange of Hong Kong (HKEX) has unveiled its Consultation Conclusions on the Corporate Governance Code (CG Code) and related Listing Rules, with major changes taking effect from 1 July 2025. These updates aim to enhance governance while allowing flexibility for issuers to adapt. 🌍 🔑 Key Highlights: 📆 2025: New requirements take effect, focusing on: ✅ Caps on “overboarding” for Independent Non-Executive Directors (INEDs). ✅ Limits on INED tenure. ✅ Board diversity requirements. ✅ Mandatory director training. ✅ Enhanced disclosures on risk management, internal controls, and capital management. 📆 2026: Large-cap issuers must comply with mandatory climate-related ESG disclosures. 💡 These updates reflect HKEX’s push toward greater transparency, accountability, and sustainability—solidifying Hong Kong’s position as a global financial leader. #CorporateGovernance #ESG #Sustainability #HKEX #FinanceI

Volume 9 of Compliance Pioneer is here! 🚀 Hong Kong’s financial ecosystem continues to evolve with greater connectivity, sustainability, and regulatory resilience. This issue brings you: 🔹 SFC Quarterly Report: Driving cross-border growth and advancing Hong Kong’s capital markets. 🔹 ESG Reporting Roadmap: A deep dive into the adoption of ISSB Sustainability Disclosure Standards. 🔹 Anti-Scam Campaign: SFC’s “Don’t be Sucker” initiative combats rising financial scams. 🔹 AML/CFT Updates: Early alerts on UNSC sanctions and enhanced training resources. 🔹 Regulatory Changes: Updates on OTC derivatives clearing, joint SFC-HKMA product survey, and Basel III reform. Stay ahead of critical developments shaping compliance, sustainability, and financial innovation. 📌 Dive into Volume 9 now and keep your insights sharp! #CompliancePioneer #SFC #HKMA #HKEX #ESG #AML #Sustainability

🚨 Regulatory Update 🚨 Hong Kong is setting a bold path forward with its new Sustainability Disclosure Roadmap, aligning with global ISSB Standards. By 2028, all publicly accountable entities (PAEs) are expected adopt these standards, reinforcing the city’s role as a hub for green and sustainable finance. 🔑 Key Milestones: 📆 2024: Main Board issuers to disclose climate data on a "comply or explain" basis. 📆 2026: Mandatory compliance for Hang Seng Composite LargeCap Index firms. 📆 2028: Full adoption of ISSB Standards for all listed PAEs and significant non-listed PAEs. 📚 Lessons Learned: 1️⃣ For Applicable Corporations: Transparency and sustainability reporting are no longer optional. Start preparing now—build internal reporting capacity, adopt technological solutions, and prioritize assurance practices. 2️⃣ For Individuals: ESG skills are in demand! From sustainability reporting to data analysis, the future of finance is green. Stay informed, make sustainable choices, and help shape a greener economy. 💡 Hong Kong's roadmap is a testament to its commitment to global best practices, ensuring that businesses and individuals alike are equipped for a sustainable future.

Don't miss this opportunity to learn from experts, connect with peers, earn CPT credits, and understand more about B Corp certification and the latest developments in stakeholder governance. Attendees will earn 1.5 CPT hours for participating in this online event

🚨 Regulatory Update 🚨 China Forestry Executives Penalized for Market Misconduct The Market Misconduct Tribunal (MMT) has hit two former China Forestry executives, Mr. Li Han Chun and Mr. Li Kwok Cheong, with harsh penalties for insider dealing and false disclosures. Together with Top Wisdom, Li’s investment vehicle, they must disgorge HK$353.4M plus interest. Both executives face five-year bans from corporate leadership and trading in Hong Kong. 🔑 Key Details: Financial Penalties: Ordered to repay HK$353.4M in illicit gains, plus interest. Leadership Bans: Prohibited from corporate roles and trading for five years. Company Fallout: Governance failures led to China Forestry's 2011 trading suspension, 2015 liquidation, and 2017 delisting. 📚 Lessons Learned: 1️⃣ For Corporations: Transparency, compliance, and strong governance are essential. False disclosures and insider dealing can lead to devastating legal, financial, and reputational consequences. 2️⃣ For Individuals: Leadership comes with accountability. Ethical practices and regulatory compliance are non-negotiable to maintain trust and avoid career-damaging penalties. Integrity is the cornerstone of sustainable success in corporate and financial markets. #RegulatoryUpdate #CorporateGovernance #ComplianceMatters #EthicalLeadership #MarketIntegrity #HongKongStockExchange