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In its Quarterly Report released today, the Securities and Futures Commission (SFC) gives an account of key regulatory developments in the July to September 2012 reporting period.
The SFC:
- launched a supplemental consultation jointly with the Hong Kong Monetary Authority on over-the-counter derivatives market participants in Hong Kong;
- solicited public comments over a two-month period on proposals to enhance the regulatory framework for electronic trading, including Internet trading, direct market access and algorithmic trading ;
- started weekly posting of the aggregated reportable short positions of specified shares on a stock-by-stock basis on the SFC site;
- amended the Guideline on Anti-Money Laundering and Counter-Terrorist Financing in July, along with the amended anti-terrorist financing legislation;
- entered into resolutions with Société Générale, RBC Investment Management (Asia) Ltd and Merrill Lynch (Asia Pacific) Ltd, all of which were reprimanded and/or fined for their failings and deficiencies; and
- authorized two additional Renminbi Qualified Foreign Institutional Investor A-share exchange-traded funds for listing in Hong Kong.
"In the last quarter, we took continued initiatives to enhance our domestic regulatory regime and to reinforce international collaboration to ensure that we are positioned to deal with complex and fast-moving global regulatory reform affecting our markets," said Mr Ashley Alder, the SFC’s Chief Executive Officer.
The report is available under "Published resources> Corporate publications> Quarterly reports" of the SFC website.
