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In its Quarterly Report for October to December 2009 [released today], the Securities and Futures Commission (SFC) notes the conclusion of its investigations into the sale of Lehman Brothers Minibonds following the repurchase agreement reached with the last of the 19 distributors.

The Securities and Futures Commission revoked the licence of Mr Chau Sik Ki and banned him from re-entering the industry for life. Chau was licensed to carry on Type 2 (dealing in futures contracts) regulated activity under the Securities and Futures Ordinance.

The Securities and Futures Commission (SFC), Hong Kong Exchanges and Clearing Limited (HKEx) and the Federation of Share Registrars Limited (FSR) have jointly issued a consultation paper on a proposed operational model to introduce a scripless securities market in Hong Kong (Note 1).
The scripless regime will allow investors to hold and transfer securities electronically, [...]

In its Quarterly Report for July to September 2009, the Securities and Futures Commission (SFC) notes that it has made a number of proposals to enhance investor protection based on issues identified in its various investigations into the sales of Minibond products. Using powers under the Securities and Futures Ordinance, the SFC had helped arrange the repurchase [...]

Four people were found guilty of conspiring to manipulate the market in the shares of Asia Standard Hotel Group Ltd. This is the first indictable prosecution for market manipulation in Hong Kong under the Securities and Futures Ordinance.
An SFC investigation alleged that from 1 August to 5 September 2005, the four conspired to create a [...]

Hong Kong’s hedge fund industry has remained strong despite the global economic downturn, according to a survey report released by the SFC. The hedge funds invested mainly in Asia Pacific using equities long/short and multi-strategies.

Polaris Taiwan Top 50 Tracker Fund will be offered on the Stock Exchange of Hong Kong when its feeder fund, Polaris Taiwan Top 50 Tracker Fund (H.K.), is listed on August 19 2009. This development follows the Taiwan Financial Supervisory Commission’s approval of three Hong Kong ETFs; W.I.S.E CSI 300 China Tracker, Hang Seng Index [...]

The Court of Appeal confirmed that the SFC has authority under Securities and Futures Ordinance section 213 to apply to the court for orders to freeze assets in cases of suspected insider dealing. The court may also grant permission to serve legal proceedings on persons outside Hong Kong.