SFC

History of SFC Hong Kong

The SFC was established in 1989 under the Securities and Futures Commission Ordinance (SFCO) to regulate the securities and futures markets in Hong Kong. Prior to the establishment of the SFC, the Hong Kong government had limited oversight of the financial markets, leading to concerns about market manipulation, insider trading, and other fraudulent activities.

Since its establishment, the SFC has played a crucial role in ensuring the integrity and stability of Hong Kong’s financial markets. The SFC has also been instrumental in promoting investor education and protecting the rights of investors.

Functions of SFC Hong Kong

The SFC is responsible for a wide range of functions, including:

1. Regulation of Securities and Futures Markets

The SFC is responsible for regulating the securities and futures markets in Hong Kong. This includes monitoring market activities, supervising market participants, and ensuring compliance with relevant regulations and laws.

2. Licensing and Registration

The SFC is responsible for licensing and registering market participants, including brokers, dealers, investment advisers, and fund managers. The SFC also regulates the conduct of these market participants, including their compliance with relevant codes of conduct.

3. Enforcement Powers

The SFC has broad enforcement powers to investigate and prosecute violations of securities and futures laws and regulations. These powers include the authority to conduct searches and seizures, freeze assets, and impose fines and other penalties.

4. Investor Protection

The SFC is responsible for protecting the rights and interests of investors in Hong Kong. This includes promoting investor education, enforcing disclosure requirements, and monitoring market activities to prevent fraud and other abuses.

5. International Cooperation

The SFC works closely with international regulatory bodies to promote the development of global regulatory standards and enhance international cooperation in regulating securities and futures markets.

6. Fintech Development

The SFC is actively involved in promoting the development of financial technology (fintech) in Hong Kong. This includes supporting the development of innovative financial products and services and fostering collaboration between market participants and technology companies.