Page 248 - 《期货和衍生品行业监管动态》（2022年合集）

期货和衍生品行业监管动态

Other amendments include clarifying an exemption in section 103(3)(k) of the
SFO such that, unless authorised by the SFC, advertisements of investment products

which are intended to be sold only to professional investors may only be issued to

professional investors who have been identified in advance as such by an intermediary

through its know-your-client and related procedures (Note 4).

"Effective enforcement is essential to safeguard the integrity of Hong Kong’s

financial markets," said Mr Ashley Alder, the SFC’s Chief Executive Officer. "We

review our enabling legislation from time to time to ensure that the SFC has the right

regulatory tools to protect the interests of the investing public and uphold the quality

of our markets."

The public is invited to submit their comments to the SFC no later than 12

August 2022 via the SFC’s website (www.sfc.hk), by email (enfconsultation@sfc.hk),
by post or by fax to 2293 4002.

Notes:

1. As a statutory body, the SFC’s work is defined and governed by the

SFO, which sets out its powers, roles and responsibilities, including its

investigative, remedial and disciplinary powers.

2. Section 213 of the SFO enables the SFC to apply to the Court of

First Instance for injunctions and other orders, including an order to restore

the parties to any transaction to the position in which they were before the

transaction was entered into.

3. This would also apply to derivatives of these securities.

4. Section 103 of the SFO prohibits the issue of advertisements and

other documents containing prescribed content unless the issue has been
authorised by the SFC. By virtue of the application of section 103(3)(k), this

prohibition currently does not apply to advertisements and other documents
made in respect of investment products which are or are intended to be sold

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