Hong Kong regulator warns intermediaries of the need to fully comply with notification requirements

The Securities and Futures Commission (SFC) recently issued a circular reminding intermediaries, and their substantial shareholders, of the various notification requirements under the law and the Code of Conduct.   In short, timely notification must be given to the SFC upon the occurrence of certain events, whether to the intermediary or other related parties.  The circular is of particular relevance where intermediaries operating in Hong Kong are part of a corporate group operating across borders.  The intermediary’s circumstances may be impacted by events concerning other group entities, which may trigger notification requirements in Hong Kong.  

In this e-bulletin, Will Hallatt, John Siu and Jeremy Birch provide a summary of the circular, outline the global and local trends and offer some practical guidance.