Date
24 May 2017
Ashley Alder says the SFC needs to forge a closer cooperative relationship with its counterparts in mainland China with regard to market supervision and enforcement. Photo: HKEJ
Ashley Alder says the SFC needs to forge a closer cooperative relationship with its counterparts in mainland China with regard to market supervision and enforcement. Photo: HKEJ

SFC deficit narrows to HK$76 mln

The Securities and Future Commission narrowed its deficit during the fiscal year to the end of March to HK$76 million from HK$139 million the year before, the Hong Kong Economic Journal reported Thursday.

The securities watchdog held HK$7.2 billion in reserves at the end of the fiscal year, its latest annual report said.

Chief executive Ashley Alder said in the report a closer cooperative relationship with its counterparts in mainland China has to be forged with regard to market supervision and enforcement.

The call came amid faster integration between the two markets with new investment channels such as Hong Kong-Shanghai Stock Connect.

The watchdog received 672 complaints about authorized persons over the year, an increase of 363 from the year before.

There were 532 complaints related to ownership disclosure and listing matters.

Meanwhile, 57 percent more new investigations were recorded during the year, with reviews of trading account records up 71 percent to 9,752.

Translation by Vey Wong

[Chinese version中文版]

– Contact us at [email protected]

VW/JP/FL

Hong Kong Economic Journal

EJI Weekly Newsletter

Please click here to unsubscribe