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ARTICLE · 12 NOVEMBER 2020

SFC Enforcement Risks For SFC Licensed Corporations: Trends From 2019-2020

Timothy Loh LLP
Timothy Loh LLP
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Timothy Loh LLP

Timothy Loh LLP

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The period from 2019-2020 saw a continued decrease in the number of SFC enforcement actions focused on SFC licensed corporations but a marginal but possibly significant increase in the number of SFC enforcement actions ...

Hong KongGovernment, Public Sector
Timothy Loh
Timothy Loh
Gavin Cumming
Gavin Cumming
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The period from 2019-2020 saw a continued decrease in the number of SFC enforcement actions focused on SFC licensed corporations but a marginal but possibly significant increase in the number of SFC enforcement actions against individual SFC responsible officers. At the same time, the period saw no real change in the number of SFC inspections but a marked increase in the number of breaches identified in the course of SFC inspections relating to anti-money laundering control requirements.

In June 2020, the Securities and Futures Commission ("SFC") published its Annual Report 2019-2020 ("2020 Annual Report") to summarize its regulatory work. The report provides data on the latest regulatory approach to SFC inspections as well as SFC enforcement action during the period from April 2019 to March 2020 against SFC licensed corporations. The report provides a window into the SFC's operations at both the SFC Enforcement Division and the SFC Intermediaries Division and

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