Hong Kong's SFC Releases the Second Quarterly Report in 2021

The Securities and Futures Commission of Hong Kong (SFC) today published its latest quarterly report, highlighting its key achievements from July to September 2021.

According to the report, SFC's total number of licensees and registrants jumped to 48,364 and the total number of licensed corporations spiked to 3,180.

The regulatory authority vetted 78 new listing applications during the period, including three from companies with weighted voting rights structures and 15 from pre-profit biotech companies.

The SFC authorised 31 unit trusts and mutual funds (including 20 Hong Kong-domiciled funds), four mandatory provident fund pooled investment funds and 73 unlisted structured investment products for public offering in Hong Kong. It registered 12 new open-ended fund companies.

During the three months, the commission conducted 66 in-depth inspections of licensed corporations to review their compliance with regulatory requirements. Two licensed corporations and five individuals were disciplined, resulting in total fines of $11.95 million.

In its latest enforcement, the SFC has banned Poon Chun Hing​ from re-entering the industry for life and banned Wang Yu Ching from re-entering the industry for 10 years from 1 December 2021 to 30 November 2031.