Page 479 - 《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

online brokers also offered collective investment schemes (including money market
funds for cash management purposes) as well as robo-advisory services.

Apart from Hong Kong, the US and the Mainland were the major equities

markets which clients of the surveyed firms accessed through online platforms. The

major futures and options markets were those in the US and Hong Kong. (Notes 2 and

3)

Some firms invested heavily in their online platforms to enable technical analysis

of stocks and to facilitate investors’ market research in a self-directed environment.

This was coupled with the use of popular social media platforms for marketing and

communication purposes. Platforms which achieved economies of scale charged

lower commission fees.

“Advances in technology and the popularity of online platforms have

transformed the way investors behave,” said Ms Julia Leung, the SFC’s Deputy Chief
Executive Officer and Executive Director of Intermediaries. “It is vital for licensed

firms to allocate sufficient resources to ensure compliance with the SFC’s

requirements when carrying out their business activities in a digital environment.”

To facilitate the industry’s efforts to adopt more innovative technology in

serving investors in a secure and compliant manner, the SFC has issued various

circulars and guidelines to provide guidance on how its principles-based,

technology-neutral rules could be applied in a digital environment. These cover

non-face-to-face account opening, online distribution and advisory platforms and

cybersecurity.

Notes:

1. The review was conducted in various ways including via a fact-finding

survey, desktop analysis and inspections.

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