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The Securities and Futures Commission (SFC) set out its 2018 enforcement priorities in the latest issue of its Enforcement Reporter published today. Corporate fraud is at the top of the list and other key priorities are insider dealing and market manipulation, intermediary and sponsor misconduct and money laundering internal control failures.
The newsletter also outlines the enforcement implications of the Manager-In-Charge regime which helps the SFC identify responsible individuals, and the importance of the SFC’s enforcement cooperation with the China Securities Regulatory Commission for the development of Hong Kong’s financial markets. The SFC’s recent review of the marketing and sale of financial products is also discussed.
"Corporate fraud remains our top enforcement priority and we are particularly concerned about false or misleading financial statements, initial public offering fraud and other sponsor failures," said Mr Thomas Atkinson, the SFC’s Executive Director of Enforcement. "The SFC will make every effort to combat fraud and misconduct and hold individuals accountable."
In addition, the new issue summarises the Guidance Note on Cooperation with the SFC published in December 2017 and highlights the significance of four recent enforcement actions.
The Enforcement Reporter, available on the SFC website, is part of the SFC’s initiatives to enhance the transparency of its work and provide the market with regular updates on enforcement trends and priorities. The public may subscribe by filling out the form available under the "Subscribe" link on the website.
