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The Securities and Futures Commission (SFC) and the Department of Justice (DoJ) today entered into a Memorandum of Understanding (MoU) to formalise and further strengthen cooperation in the handling of criminal cases under the Securities and Futures Ordinance (SFO) and other relevant legislation (Note 1).
Building on the existing arrangements between the SFC and the DoJ, the MoU reaffirms our firm commitment to work closely together to ensure that all relevant corporate and financial services wrongdoings are dealt with in a timely and effective manner for the protection of the Hong Kong securities and futures markets and the investing public.
The MoU was signed by the SFC’s Chief Executive Officer, Mr Ashley Alder and the Director of Public Prosecutions, Mr Keith Yeung, Senior Counsel (Note 2).
Notes:
- Section 388 of the SFO sets out the SFC’s power to prosecute, in its own name, offences under the SFO and certain criminal offences under the Companies (Winding Up and Miscellaneous Provisions) Ordinance, the Companies Ordinance, and the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance. The SFC can only prosecute offences summarily before a magistrate. Nothing in section 388 derogates from the powers of the Secretary for Justice in respect of the prosecution of criminal offences.
- The MoU is posted on the SFC website.
