Licensed corporations up to 3,159 in 2020/21: SFC
The total number of licensees and registrant rose to 47,178.
The number of licensees and registrants increased to 47,178 in 2020/21, of which 3,159 were licensed corporations, according to the Securities and Futures Commission (SFC).
In its 2020/21 Annual Report, the SFC also said it has authorized some 188 collective investment schemes and 146 unlisted structured investment products for public offering.
“Our core mission is to strengthen Hong Kong’s competitiveness and uphold fair and orderly markets in which investors can have full confidence,” SFC Chairman Tim Lui said.
“The success of Stock Connect and other mutual market access schemes showcases the unique role Hong Kong plays in intermediating global capital between a rapidly developing China and the rest of the world, and this will only increase in importance in the coming years,” Liu added.
The SFC was also able to vet 257 listing applications and supervise 469 takeovers-related transactions.
It also directly sought information from 27 listing applicants, exercising its powers under the Securities and Futures (Stock Market Listing) Rules, and conducted 304 risk-based on-site inspections of intermediaries.
It has also made 8,748 requests for trading and account records from intermediaries, resulting from its market surveillance.
Moreover, it disciplined 18 firms and 13 individuals, imposing a total of $2.81b fines for intermediary misconduct.