Hong Kong’s SFC to strengthen enforcement

Hong Kong’s Securities and Futures Commission (SFC), the securities industry watchdog, will continue to place emphasis on enforcement and investor education in the coming year, said SFC chairman Martin Wheatley.

Wheatley told reporters during a review of the SFC’s work in 2005 that the regulator had made 19 prosecutions for market manipulation in the nine months to end-December, against 16 cases for the 12 months to end-March 2005.

In addition, the SFC has continued to take action against insider dealing and the mis-selling of investment products. “There is a continuing trend of encountering cases in which investment advisers sell unsuitable products to clients. Several will conclude this year. We are

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