What is SFC trading?
Securities And Futures Commission (SFC)
What are the three types of professional investor according to the SFC Code of Conduct?
Definition of “professional investors” 32. Under the Code of Conduct, there are two types of professional investors – (i) market professionals21 (e.g. banks and insurance companies); and (ii) high net worth investors22.
What is SFC type?
SFC license types for regulated activities Type 1 – Dealing in securities. Type 2 – Dealing in futures contracts. Type 3 – Leveraged foreign exchange trading. Type 8 – Securities margin financing.
Who does the SFC regulate?
Hong Kong’s securities and futures markets
The Securities and Futures Commission (SFC) is an independent statutory body set up in 1989 to regulate Hong Kong’s securities and futures markets.
What are the objectives of SFC?
Objectives ▪ To establish uniformity in regional industries. To provide incentives to new industries. 3 ▪ To bring efficiency in regional industrial units. To develop regional financial resources ▪ To provide finance to small scale, medium sized and cottage industries in the state..
Who is a professional investor in Hong Kong?
any individual who (either alone or with his/her spouse or child on a joint account) has a portfolio of not less than $8 million (or its equivalent in any foreign currency) (“Individual Professional Investor(s)”);
Who is a professional investor?
professional investor means an investor who possesses the experience, knowledge and expertise to make its own investment decisions and properly assess the risks that it incurs.
What is SFC licensed?
A licence is issued by the SFC under Part V of the SFO only to allow the holder to carry on business in a regulated activity, or to perform a regulated function in relation to a regulated activity carried on as a business, in Hong Kong.
What is an intermediary SFC?
For simplicity, the term “intermediary” in this Part broadly refers to any person licensed by or. registered with the SFC. This coverage is wider than the relevant provisions under Part 1 of Schedule 1 to the SFO where “intermediary” is defined to mean a licensed corporation or a registered institution only.
Why is SFC important?
Specific fuel consumption (SFC) is one of the most important metrics employed in aviation. It is important not only in aircraft design but also in the operation of the aircraft. First and foremost, SFC indicates how efficiently a power plant converts chemical into mechanical energy.
What is SFC license?
What are the new rules for electronic trading?
The principles that will apply to electronic trading by asset managers and other SFC-regulated entities will be set out in a new paragraph 18 of the SFC’s Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission ( Code of Conduct ), with more detailed requirements set out in Schedule 7 to the Code of Conduct.
How does SFC propose to enhance regulatory framework for electronic trading?
In view of the increased use of electronic trading by intermediaries, the SFC proposes to build on the existing regulatory requirements by providing a more coherent and comprehensive regulatory framework for electronic trading (Note 1).
How are new SFC rules affecting asset managers?
The rules outlined in the Consultation Conclusions will affect SFC-regulated asset managers that: use their own or their group’s internally-developed trading algorithms. This client alert includes a summary of the rules, how they impact asset managers and suggested action items to ensure compliance with the rules.
What does the Securities and Futures Commission do?
The Securities and Futures Commission (SFC) has begun today a two-month public consultation on proposals to enhance the regulatory framework for electronic trading, which includes internet trading, direct market access (DMA) and algorithmic trading.