Hong Kong’s Securities and Futures Commission (SFC) today published its latest Quarterly Report which summarises key developments from October to December 2020.
As at 31 December 2020, the number of licensees and registrants totalled 47,217, of which 3,122 were licensed corporations. In the quarter, the regulator received 1,333 licence applications including 55 corporate applications.
During the nine months to end-December 2020, the SFC got 3,914 license applications, down 26.4% from the preceding year. There was also a drop in the number of applications to conduct new regulated activity – from 15,848 to 13,303.
- In the final quarter of 2020, the SFC authorised 51 unit trusts and mutual funds, including 23 funds domiciled in Hong Kong, and 18 unlisted structured investment products for public offering.
- A total of 34 new listing applications were vetted, including two from companies with a weighted voting rights structure and four from pre-profit biotech companies.
- The SFC issued section 179 directions to gather additional information in 10 cases and wrote to detail our concerns in two transactions as part of its review of corporate disclosures.
- Three licensed corporations and three individuals were disciplined, resulting in total fines of $2.72 billion.
- The regulator made 2,157 requests for trading and account records triggered by untoward price and turnover movements.