Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more
Caproasia Access | Events | Summits | Register Events | The Financial Centre
The 2024 Investment Day | 2024 Family Office Summits | Family Office Circle
2024 / 2025 Summits in Hong Kong & Singapore
Institutional Investor Summit / Roundtable - March / Oct / Nov
Investment / Alternatives Summit - March / Oct / Nov
Investment Day - March / July / Sept / Oct / Nov
Private Wealth Summit - April / Oct / Nov
Family Office Summit - April / Oct / Nov
View Events | Register
This site is for accredited investors, professional investors, investment managers and financial professionals only.
You should have assets around $3 million to $300 million or managing $20 million to $30 billion.
Hong Kong SFC 2022 Q2 Report: 48,533 Licensees, 2,852 Funds, $4.55 Trillion AUM, 837 Complaints, 74 Market Misconduct, 53 AML Breaches, 47 Criminal Charges
27th August 2022 | Hong Kong
The Hong Kong Securities & Futures Commission (SFC) has released the 2022 Quarterly Report (April – June 2022), providing key insights into Hong Kong financial industry, investment products, financial markets, corporates and enforcement actions & complaints. In Q2 2022, Hong Kong SFC reported 48,533 licensees including 3,261 corporations, a total of 2,852 Collective Investment Schemes, $4.55 trillion AUM (Asset & Wealth Mgmt Survey 2021), and key enforcement & complaint data including a total of 837 complaints on financial intermediaries & market activities, 74 market misconduct (Manipulation, Insider Trading), 53 anti-money laundering breaches, 33 fund manager conduct breaches, 47 criminal charges laid and more. View key highlights & summary below. View full report
” 48,533 Licensees, 2,852 Funds, $4.55 Trillion AUM, 837 Complaints, 74 Market Misconduct, 53 AML Breaches, 47 Criminal Charges “
- Article continues below -
Quick Links, Ads & Announcements
Caproasia Access | Events | Summits | Register Events | The Financial Centre
The 2024 Investment Day | 2024 Family Office Summits | Family Office Circle
Sign Up
Basic Member: $5 Monthly | $60 Yearly
Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680)
The 2024 Investment Day
17th Oct Hong Kong | 7th Nov Singapore
Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Join 20+ CIOs & Senior investment team, with > 60% single family offices with $300 million AUM. Taking place on 17th Oct 2024 in Hong Kong, 7th Nov 2024 in Singapore. Every March, July, Sept, Oct & Nov.
Visit | Register here
The 2024 Family Office Summit17th Oct Hong Kong St Regis | 7th Nov Singapore Amara Sanctuary Resort
Join 80 single family offices & family office professionals in Hong Kong & Singapore
Links: 2024 Family Office Summit | Register here
2024/2025 Institutional Investor Summit / Roundtable
March / Oct / Nov in Hong Kong & Singapore
Join CEOs, CIOs, Senior investment team from Sovereign Wealth Funds, Pension Funds, Endowments, Foundations & Charities in Hong Kong, Singapore & Asia-Pacific at the 2024 Institutional Investor Summit / Roundtable. Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here
2024/2025 Investment / Alternatives Summit
March / Oct / Nov in Hong Kong & Singapore
Join leading asset managers, hedge funds, boutique funds, private equity, venture capital & real estate firms in Hong Kong, Singapore & Asia-Pacific at the Investment / Alternatives Summit. Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here
2024/2025 Private Wealth Summit
April / Oct / Nov in Hong Kong & Singapore
Join CEOs, CIOs, Head of Private Banking, Head of Family Offices & Product Heads at The Private Wealth Summit. Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here
2022 Hong Kong SFC Quarterly Report Summary
Key Industry Highlights (April – June 2022):
- Total licensees & registrants: 48,533 including 3,261 corporations (30/6/22)
- 1,517 new license applications (43 corporate)
- Total Collective Investment Schemes: 2,852
- Unit trusts & mutual funds – HK-domiciled: 868
- Unit trusts & mutual funds – non-HK-domiciled: 1,382
- Asset & Wealth Management AUM 2021: $4.55 trillion (HKD 35.54 trillion)
- 69 new listing applications
- 2 overseas listed companies achieved dual listings on Hong Kong Mainboard
Enforcement Actions, Complaints Highlights (April – June 2022):
- Total Complaints against intermediaries & market activities: 837
- Cases with search warrants executed: 11
- Individuals & corporations subject to ongoing civil proceedings: 169
- Criminal charges laid: 47
- Individuals & corporations charged in criminal proceedings: 3
- Listed companies and disclosure of interests: 188
- Market misconduct (Manipulation, Insider Trading): 74
- Total Breaches during on-site inspections: 310
- Internal control weaknesses: 108
- Non-compliance with anti-money laundering guidelines: 53
- Fund Manager Code of Conduct: 33
- Code of Conduct for Persons Licensed / Registered with the Securities and Futures Commission: 44
- Safekeep client securities: 4
- Safekeep client money: 7
What’s New:
- May 2022: Published FAQ on Conduct standards in capital market transactions (book-building & placing activities). New requirement started on 5/8/22.
- Corporate license applications e-submissions via WINGS (Mandatory on 1/4/22)
- ETF Connect launched on 4th July 2022
- Mutual recognition of Funds (MRF) under Mainland-Hong Kong MRF scheme
- April 2022: Concluded consolation on the addition of 8 new calculation periods under the Clearing Rules for the over-the-counter (OTC) derivatives regulatory regime
- April 2022: Consultation on proposed changes to the position limit regime for listed futures & options contracts
- May 2022: Holiday trading on the derivatives market commenced
- June 2022: New risk models for the cash market (Sizing initial margin & default fund requirements for HKEX clearing participants)
- Late 2022: Launch of the investor identification regime at the trading level for the securities market in Hong Kong.
A) Intermediaries, Investment Products, Financial Markets, Corporates, Virtual Assets
1) Financial Intermediaries:
- Total licensees & registrants: 48,533 including 3,261 corporations (30/6/22)
- 1,517 new license applications (43 corporate)
- 60 on-site inspections of licensed corporations to review their compliance with regulatory requirement
- Corporate license applications e-submissions via WINGS (Mandatory on 1/4/22)
- May 2022: Published FAQ on Conduct standards in capital market transactions (book-building & placing activities). New requirement started on 5/8/22.
2) Investment Products
- Total Collective Investment Schemes: 2,852
- Approved 35 new Unit Trusts & Mutual Funds, 47 Unlisted Structured Investment, 16 open-ended fund companies (OFCs)
- Total open-ended fund companies (OFCs): 78
- Total Unlisted Structured Investment: 228
- Hong Kong-domiciled funds AUM: $169.6 billion (30/6/22)
Asset & Wealth Management AUM 2021: $4.55 trillion (HKD 35.54 trillion) - ETF Connect launched on 4th July 2022
- Mutual recognition of Funds (MRF) under Mainland-Hong Kong MRF scheme
3) Authorised collective investment schemes
- Unit trusts & mutual funds – HK-domiciled: 868
- Unit trusts & mutual funds – non-HK-domiciled: 1,382
- ILAS: 300
- Pooled retirement funds: 32
- Mandatory provident fund (MPF) schemes: 26
- MPF pooled investment funds: 219
- Others: 25
- Total: 2,852
4) Non-Hong Kong-domiciled authorised funds Origin: 1,382
- Luxembourg: 1,034
- Ireland: 242
- United Kingdom: 29
- Mainland China: 49
- Bermuda: 1
- Cayman Islands: 22
- Others: 5
5) Financial Markets
- In April 2022: Concluded consolation on the addition of 8 new calculation periods under the Clearing Rules for the over-the-counter (OTC) derivatives regulatory regime
- In April 2022: Consultation on proposed changes to the position limit regime for listed futures & options contracts
- In May 2022: Holiday trading on the derivatives market commenced
- In June 2022: New risk models for the cash market (Sizing initial margin & default fund requirements for HKEX clearing participants)
- Late 2022: Launch of the investor identification regime at the trading level for the securities market in Hong Kong.
- No. of Automated Trading Services Providers (ATS): 50 (26 Corporations, 13 Dark Pool Operators)
- Consultation to amend the Securities & Futures Ordinance (SFO) to facilitate more effective enforcement actions
6) Corporate (Listing, Take-over)
- 69 new listing applications
- 2 overseas listed companies achieved dual listings on Hong Kong Mainboard
- 2022 April, publicly criticised Gao Yunhong & Feng Xuelian for breaching the no frustrating action rules during an offer for Steering Holdings Limited (As directors of Steering, they were substantially involved in the disposal of some of the company’s listed securities which constituted a disclosable transaction under the Listing Rules and a frustrating action subject to the Takeovers Code. There was a breach of the Takeovers Code when neither the approval of Steering’s shareholders was obtained nor was a waiver of the requirement to obtain shareholders’ approval sought from the Executive)
7) Virtual Assets
- In April 2022, approval-in-principle to Hash Blockchain Limited (2nd virtual asset trading platform operator in HK)
- In June 2022, Anti-Money Laundering & Counter-Terrorist Financing (Amendment) Bill 2022 (new licensing regime for centralised virtual asset exchanges trading non-security tokens in HK to be regulated by the SFC)
- Warning Issued in June 2022: Risks associated with non-fungible tokens (NFTs) and reminded the industry that where NFTs cross the boundary between a collectible and a financial asset, they may be subject to our regulation.
B) Enforcement Actions, Complaints
1) Enforcement activities:
- Cases with search warrants executed: 11
- Compliance advice letters issued: 23
- Individuals & corporations subject to ongoing civil proceedings: 169
- Disciplinary notice issued: 6
- Criminal charges laid: 47
- Individuals & corporations charged in criminal proceedings: 3
- Investigations completed: 44
- Investigations started: 24
- Section 179 commenced: 5 (Produce records & documents by listco for fraud, misconduct)
- Section 181 commenced: 40 (Products information by intermediary on trading transaction, including end-clients)
- Section 182 Issued: 24 (Power to investigate SFO offences, market misconduct, fraud, misfeasance and disciplinary misconduct.)
2) Complaints against intermediaries and market activities: 837
- Conduct of licensees: 215
- Conduct of registered institutions: 15
- Listed companies and disclosure of interests: 188
- Market misconduct (Manipulation, Insider Trading): 74
- Product disclosure: 2
- Unlicensed activities: 19
- Breach of offers of investments: 7
- Boiler rooms & suspicious websites: 58
- Scams & frauds (Identify etc): 165
- Financial activities not regulated by the SFC (Eg. bullion trading, banking services): 94
3) Breaches during on-site inspections: 310
- Securities & Futures (Financial Resources) Rules: 2
- Safekeep client securities: 4
- Maintain proper books & records: 2
- Safekeep client money: 7
- Unlicensed dealing & other registration issues: 5
- Licensing conditions: 2
- Requirements of contract notes/statements of account/receipts: 13
- Margin requirements: 1
- Code of Conduct for Persons Licensed / Registered with the Securities and Futures Commission: 44
- Corporate Finance Adviser Code of Conduct: 2
- Fund Manager Code of Conduct: 33
- Regulation of online trading: 4
- Non-compliance with anti-money laundering guidelines: 53
- Rules & regulations of the Exchanges: 1
- Internal control weaknesses: 108
- Others: 29
4) Enforcement Highlights:
- Hong Kong Court orders fraudsters of a global pyramid and ponzi scheme to compensate their victims. The Court appointed administrators to receive and distribute to aggrieved investors the proceeds from the scheme totalling
- HKD 2.8 million in 2 bank accounts frozen by the SFC. (DFRF Enterprises LLC, DFRF Enterprises, LLC, and Daniel Fernandes Rojo Filho.)
- Hong Kong Court orders Maxim Capital Limited & Maxim Trader to pay aggrieved investors. The Court appointed administrators to receive, administer and distribute a total sum of approximately HKD 23.5 million in an account frozen by the SFC to the investors on a pro rata basis.
- China Everbright Securities (HK) ~ Reprimanded & fined HKD 3.8 million. Failed to implement adequate and effective systems and controls to guard against and mitigate the risk of money laundering and terrorist financing associated with third party deposits
- CES Capital International (HK) ~ Reprimanded and fined HKD 3.2 million. Failed to discharge its duties as an investment manager of two funds)
- Ho Pak Hay ~ Banned from re-entering the industry for life. Misappropriated and misused clients’ funds
- Poon Choi Yung ~ Banned from re-entering the industry for 20 months. Effected transactions in clients’ accounts without their authorisation and failed to take reasonable steps to establish clients’ financial situations and investment experience during account opening
Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.
Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more. List hard-to-find financial & private wealth services.
Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?
Quick Links
Caproasia Access | Events | Summits | Register Events | The Financial Centre
The 2024 Investment Day | 2024 Family Office Summits | Family Office Circle
2021 Data Release
2020 List of Private Banks in Hong Kong2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office2020 Top 10 Largest Multi-Family Offices2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM
For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success
Register Below
For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors
Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.
Sign Up / Register
Web links may be disabled on mobile for security. Please click on desktop.
Caproasia Users
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2024 Investment Day
- March 2024 - Hong Kong
- March 2024 - Singapore
- July 2024 - Hong Kong
- July 2024 - Singapore
- Sept 2024 - Hong Kong
- Sept 2024 - Singapore
- Oct 2024 - Hong Kong
- Nov 2024 - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
Contact Us
For Enquiries, Membership [email protected], [email protected] For Listing, Subscription [email protected], [email protected] For Press Release, send to: [email protected] For Events & Webinars [email protected] For Media Kit, Advertising, Sponsorships, Partnerships [email protected] For Research, Data, Surveys, Reports [email protected] For General Enquiries [email protected]Caproasia | Driving the future of Asia
a financial information technology co.
since 2014
