20 August 2020
The SFC today published its latest Quarterly Report which summarises key developments from April to June 2020.
To ensure that Hong Kong’s international financial markets function efficiently during the COVID-19 outbreak, the SFC stepped up its supervisory work and stress tests and allowed a measure of flexibility for some regulatory requirements. It also issued a joint statement with The Stock Exchange of Hong Kong Limited (SEHK) to provide guidance to listed companies on holding general meetings for shareholders when social distancing requirements are in effect.
During the quarter, the SFC consulted on changes to the Code on Real Estate Investment Trusts (REITs) to give Hong Kong REITs more flexibility in making investments. It concluded consultations on a proposed operational model for a paperless securities market and on enhancements to the over-the-counter derivatives licensing regime. Reports on the SFC’s annual review of the performance of SEHK and its expected regulatory standards for brokers offering leveraged foreign exchange trading were also published during the quarter.
Hong Kong’s Green and Sustainable Finance Cross-Agency Steering Group, co-chaired by the SFC and the Hong Kong Monetary Authority, was established in May to coordinate the management of climate and environmental risks to the financial sector.
Read more: https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=20PR76