securities and futures act

The Securities and Futures Commission (SFC) of Hong Kong is the independent statutory body charged with regulating the securities and futures markets in Hong Kong. monitoring and conducting surveillance of any information or expressions of opinion provided for the purpose of determining a designated benchmark. Accordingly, each of Auctus Investments Limited and Mr Arvind Tiku is deemed pursuant to the provisions of Section 4 of the Securities and Futures Act, Chapter 289 to have an interest in the 35,123,146 Units held by AT Investments Limited. (4)  For the purposes of this Act, a person has a substantial shareholding in a corporation if —, he has an interest or interests in one or more voting shares (excluding treasury shares) in the corporation; and. Securities Industry (Declaration of Exempt Stock Market) Order 2005: Revoked.Section 388 Schedule 11: CMSA. (9)  For the purpose of determining whether a person has an interest in a security, securities-based derivatives contract or unit in a collective investment scheme, it is immaterial that the interest cannot be related to a particular security, securities-based derivatives contract or unit in a collective investment scheme (as the case may be). 230 Unsolicited transactions by holder of capital markets services licence and representatives, 233 Action under section 232 not to commence, etc., in certain situations, 235 Action under section 234 not to commence, etc., in certain situations. 3) Notification 2018, Securities and Futures (Amendment) Act 2017 (Commencement) (No. Securities Advisor is a regulated securities activity under the Securities Act, 2015 and Futures Advisor is a regulated activity under the Futures Market Act, 2016. —(1)  In this Act, unless the context otherwise requires —, —(1)  Unless the context otherwise requires, any reference in this Act to a person associated with another person shall be construed as a reference to —, Interest in securities, securities-based derivatives contracts or units in a collective investment scheme. the activities or conduct of corporations, governments, bodies unincorporate and other persons who are admitted to that list, by the corporation or overseas exchange, or are contained in any of the constituent documents of the corporation or overseas exchange; or. a group of users, from which the name of a user can be directly inferred; “VCC” means a VCC or variable capital company as defined in section 2(1) of the Variable Capital Companies Act 2018; “voting share” has the same meaning as in section 4(1) of the Companies Act (Cap. It was signed into law on December 21, 2000 by President Bill Clinton.It clarified the law so most OTC derivative transactions between "sophisticated parties" would not be regulated as "futures… 110); or, to measure the performance of any product offered by a person who is, or who belongs to a class of persons which is, prescribed by regulations made under section 341; or. AN ex-remisier has been charged with defrauding under the Securities and Futures Act - the first prosecution case by the Monetary Authority of Singapore (MAS) under the MAS-CAD (Commercial Affairs Department) joint investigation regime. 46AAB Action by Authority if approved exchange or recognised market operator unable to meet obligations, etc. in the case of any other scheme — the manager for the scheme; shares, units in a business trust or any instrument conferring or representing a legal or beneficial ownership interest in a corporation, partnership or limited liability partnership; any other product or class of products as may be prescribed. To print the whole chapter in HTML, please click at the bottom of the TOC panel and then click .Please set the page orientation to “Landscape” for printing of bilingual texts on a single page. 186), the Insurance Act (Cap. 50); “organised market” has the meaning given to it in the First Schedule; “overseas exchange” means a person operating an organised market outside Singapore that is regulated by a financial services regulatory authority of a country or territory other than Singapore; for the purposes of Part II, a person who may participate in one or more of the services provided by an approved exchange or a recognised market operator, in its capacity as an approved exchange, or a recognised market operator, as the case may be; for the purposes of Part IIA, a person who may participate in one or more of the services provided by a licensed trade repository or licensed foreign trade repository, in its capacity as a licensed trade repository or licensed foreign trade repository, as the case may be; for the purposes of Part III, a person who, under the business rules of an approved clearing house or a recognised clearing house, may participate in one or more of the services provided by the approved clearing house or recognised clearing house, in its capacity as an approved clearing house or a recognised clearing house, as the case may be; or. 19); a merchant bank that is approved as a financial institution under section 28 of the Monetary Authority of Singapore Act (Cap. View exemptions issued under section 337(2) of the Securities and Futures Act for the period from 1 October 2017 to 31 December 2018. The Securities Industry Act 1973 was repealed and replaced by the Securities Industry Act 1986. any index, right or interest in any produce, item, goods or article that is, or that belongs to a class of indices, rights or interests that is, prescribed not to be a commodity for the purposes of this definition; “company” has the same meaning as in section 4(1) of the Companies Act (Cap. The scope of the SFA includes the following: concerned with or takes part in the management of the relevant person on a day-to-day basis; “exempt benchmark administrator” means a person who is exempted under section 123K(1) from the requirement to be an authorised benchmark administrator; “exempt benchmark submitter” means a person who is exempted under section 123ZH(1) from the requirement to be an authorised benchmark submitter; “exempt person” means a person who is exempted under section 99; any price, rate, index or value that is —. “holding company” has the same meaning as in section 5(4) of the Companies Act (Cap. 59 Obligation to manage risks prudently, etc. a related corporation of the member, with respect to accepted instructions to deal for an account belonging to, and maintained wholly for the benefit of, that related corporation; “dealing in capital markets products” has the meaning given to it in the Second Schedule; any debenture stock, bond, note and any other debt securities issued by or proposed to be issued by a corporation or any other entity, whether constituting a charge or not, on the assets of the issuer; any debenture stock, bond, note and any other debt securities issued by or proposed to be issued by a trustee-manager of a business trust in its capacity as trustee-manager of the business trust, or a trustee of a real estate investment trust in its capacity as trustee of the real estate investment trust, whether constituting a charge or not, on the assets of the business trust or real estate investment trust; or. View exemptions issued under section 337(2) of the Securities and Futures Act for the period from 1 January 2018 to 31 March 2019. • Notifications and regulatory submissions to MAS. An Act relating to the regulation of activities and institutions in the securities and derivatives industry, including leveraged foreign exchange trading, of financial benchmarks and of clearing facilities, and for matters connected therewith. 81SAA Action by Authority if approved clearing house or recognised clearing house unable to meet obligations, etc. 142); any deposit as defined in section 4B of the Banking Act (Cap. 110); any intangible property or class of intangible properties; or. Securities and Futures Act. to determine the interest payable or other sums due on deposits or credit facilities; to determine the price or value of any investment product as defined in section 2(1) of the Financial Advisers Act (Cap. Management & Corporate Governance Noble comes under investigation for potential accounting & regulatory breaches. exempt corporate finance advisers) on the various approval and reporting requirements and timelines under the SFA and its subsidiary instruments. (5)  A person is treated as having an interest in a security, securities-based derivatives contract or unit in a collective investment scheme if —, a corporation has, or is by the provisions of this section (apart from this subsection) treated as having, an interest in that security, securities-based derivatives contract or unit in a collective investment scheme (as the case may be); and. Synopsis. 50); or. that is authorised under section 286 or recognised under section 287; that invests primarily in real estate and real estate-related assets specified by the Authority in the Code on Collective Investment Schemes; and. the property does not consist of any of the following: any currency of any country or territory; any policy as defined in the First Schedule to the Insurance Act (Cap. 50), the change of name shall not affect the identity of that corporation or the application of the relevant provisions of this Act or any other written law to that corporation. such other product or class of products as the Authority may prescribe, a cheque, letter of credit, order for the payment of money or bill of exchange; or. any index, right, interest, tangible property or intangible property of any nature that is, or belongs to a class of indices, rights, interests, tangible properties or intangible properties that is, prescribed for the purposes of this definition, any produce, item, goods or article that is, or that belongs to a class of produce, items, goods or articles that is, prescribed not to be a commodity for the purposes of this definition; or. The SFA puts in place rules and regulations concerning, inter alia, markets, market operators, clearing facilities, intermediaries and representatives. any unit of a collective investment scheme; any certificate of deposit issued by a bank or finance company, whether situated in Singapore or elsewhere; or. View exemptions issued under section 337(2) of the Securities and Futures Act for the period from 1 July 2014 to 30 September 2014. Protection of the rights and interests of securities investors and futures traders shall be carried out in accordance with this Act; the relevant provisions of the Securities and Exchange Act, the Futures Trading Act, the Securities Investment Trust and Consulting Act, and other applicable acts shall apply with regard to any matters not provided for herein. —(1)  Subject to subsection (2), unless the context otherwise requires —, Revised Editions of Subsidiary Legislation. 19); any credit facilities as defined in section 2(1) of the Banking Act; an arrangement which is an arrangement, or is of a class or description of arrangements, specified by the Authority as not constituting a collective investment scheme by notice published in the, any index, right or interest in any produce, item, goods or article; or. (4)  A person is treated as having an interest in a security, securities-based derivatives contract or unit in a collective investment scheme if a corporation has, or is by the provisions of this section (apart from this subsection) treated as having, an interest in that security, securities-based derivatives contract or unit in a collective investment scheme (as the case may be) and —, the corporation is, or its directors are, accustomed or under an obligation, whether formal or informal, to act in accordance with the directions, instructions or wishes of the person; or. From that point, there was a general tightening up of securities … Securities and Futures Act (Cap. upon a proposal to reduce the participants’ funds of the scheme; upon a proposal for the disposal of the whole of the property, business and undertakings of the scheme; (2)  Any reference in this Act to the affairs of a corporation shall, unless the contrary intention appears, be construed as including a reference to —. 31A); “capital markets products” means any securities, units in a collective investment scheme, derivatives contracts, spot foreign exchange contracts for the purposes of leveraged foreign exchange trading, and such other products as the Authority may prescribe as capital markets products; “capital markets services licence” means a licence that is granted by the Authority under section 86 to a person to carry on a business in any regulated activity; “chairman” means a chairman of a board of directors; “chief executive officer”, in relation to an approved exchange, a recognised market operator, a licensed trade repository, a licensed foreign trade repository, an approved clearing house, a recognised clearing house, an approved holding company, the holder of a capital markets services licence, an authorised benchmark administrator, an authorised benchmark submitter, a designated benchmark submitter or any other corporation (called in this definition a relevant person) means any person, by whatever name called, who is —, in the direct employment of, or acting for or by arrangement with, the relevant person; and. 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