The Hong Kong Securities and Futures Commission published the "Quarterly Report" on February 17 (October to December 2016)。Report shows，As of December 31 last year，Licensed InstitutionThe total number of persons and registered institutions hit a new high of 42,665；in，The number of licensed institutions increased by 11% to 2,411，Also set a new record。
Number of licensed institutions hits record high，financeCompliance requirementsContinuous improvement
The scale of licensed institutions and practitioners continues to expand，Reflects licensed operations in Hong Kong’s financial market、Compliance governance and regulatory transparency requirements are increasing。For those planning to conduct securities business in Hong Kong、asset Management、For businesses engaged in investment advisers and related regulated activities，License application、Continuous Compliance、Management Accountability and Customer Suitability Obligations，have become core matters that must be carefully planned before entering the market.。
Listing Supervision Reform and Electronic Filing Arrangements
The Securities and Futures Commission of Hong Kong stated，Joint consultation is underway with Hong Kong Exchanges and Clearing Limited (HKEX) on proposals to improve listing regulatory decision-making and governance structures，and analyze market response。
at the same time，The Securities and Futures Commission is committed to implementing the mandatory regulations that came into effect on February 1, 2017：All individuals are required to submit license applications through the SFC electronic services website、Notice and annual return form。The arrangement further promotes the electronicization of regulatory processes，Licensed institutions and relevant personnel are also required to pay more attention to the accuracy of declaration materials.、Timeliness and internal trace management。
Review status of listing applications under the dual filing system
Under the dual archiving system，For the nine months ended December，The SFC collaborates with the Hong Kong Stock Exchange to complete the following tasks:：
- 193 listing applications reviewed。
- The number of listing application reviews increased by 9% year-on-year。
Key tasks during the period also include launching the Shenzhen-Hong Kong stock market trading interconnection mechanism，and the Securities and Futures Commission and the Swiss Financial Market Supervisory Authority signed an agreement on mutual recognition of funds arrangements。These developments further demonstrate the cross-border connectivity of Hong Kong’s capital markets.、Continuous deepening of mutual recognition of fund products and international regulatory collaboration。
Asset Management Industry Regulation、Sales Transparency and Executive Accountability
Seasonal，Hong Kong Securities and Futures Commission launches public consultation on strengthening regulation of the asset management industry and transparency in sales，and issued a circular on measures for core functional managers，Aims to clarify the accountability of senior management of licensed institutions。
The SFC also issued two other circulars，To clarify the current responsibilities of licensed institutions and licensed persons in providing reasonable and appropriate advice to clients，and provide relevant guidance。we pay attention to，The focus of supervision has shifted from pure license access，Further extends to the business sales process、Customer risk matching、product disclosure、Management oversight and ongoing compliance enforcement。
rights issue、Review of public offerings and listing rules
also，The SFC announced that it is closely monitoring rights issues and public offer activities in conjunction with the Stock Exchange of Hong Kong Limited (SEHK)，and review the relevant provisions of the Listing Rules。This trend shows，Regulators will continue to pay attention to the financing arrangements of listed companies、Market fairness and investor protection mechanism。
Disciplinary actions and fines
Seasonal，SFC takes disciplinary action against five licensed institutions and 11 representatives，The total fines involved are NT$9.8 million.。For licensed institutions，Compliance responsibilities are not only reflected in the application stage，More throughout daily operations、Customer communication、transaction arrangement、internal control、Personnel management and regulatory reporting and other aspects。
Hong Kong Information Communications Compliance Observation
The number of licensed institutions hits a new high、Electronic declaration is fully promoted，To strengthen supervision of the asset management industry、The accountability of senior management is clear and law enforcement actions are continuously implemented.，Hong Kong’s financial regulatory environment is moving towards higher standards、Development of stronger transparency and stricter accountability mechanisms。Businesses planning to applyHong Kong Securities and Futures Commission licenseor expand regulated financial business，A complete license application plan should be established as early as possible、internal control framework、Compliance Manual、Responsible personConfiguration and continuous reporting mechanism，To reduce regulatory risks and improve approval efficiency。
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