The Securities and Futures Commission said in its Regulation for quality markets annual report 2012 – 2013, that the number of licensed intermediary corporations hit 1,905 during the year, although the number of SFC licensees and registrants declined 2% to 38,746.
Introducing the annual report, the chairman and chief executive of the SFC, Carlson Tong and Ashley Alder, reinforce in a joint statement the SFC’s “mission”, namely “strengthening and protecting the integrity and soundness of Hong Kong’s financial markets for the benefit of the investing public as well as the financial industry”.
Alder and Tong go on to highlight key initiatives and legislation from the previous 12 months, revealing that 36 disciplinary cases were completed leading to the “successful prosecution of 36 individuals and corporations”.
The SFC also highlights, among other things, the new commission disclosure regime for Investment Linked Assurance Schemes which was introduced earlier this year.
Click here to read some adviser reaction to the new commission disclosure law
