Kyle Wombolt

May 9, 2024 | lexology.com | Kyle Wombolt |Hannah Cassidy |Valerie Tao

Insider dealing has long been a permanent item on the agenda of financial regulators worldwide, including Hong Kong’s Securities and Futures Commission (SFC), primarily due to the unfair market it creates as a result of information asymmetry. The SFC can bring criminal charges or commence civil proceedings when pursuing those involved in insider dealing.

Oct 6, 2023 | mondaq.com | Hannah Cassidy |Kyle Wombolt |Gareth Thomas |Rachael Shek

Earlier this year, we reported on the introduction of the first joint statement between the Securities and Futures Commission (SFC) and the Accounting and Financial Reporting Council (AFRC) (please see our July 2023 bulletin). More recently, the AFRC entered into a new Memorandum of Understanding (MoU) with the Hong Kong Monetary Authority (HKMA) to strengthen co-operation between the parties (Parties). The new MoU supersedes the previous MoU signed on 19 November 2007.

Jul 19, 2023 | mondaq.com | Hannah Cassidy |Kyle Wombolt |Gareth Thomas |Rachael Shek

On 13 July 2023, the Securities and Futures Commission (SFC) and the Accounting and Financial Reporting Council (AFRC) (formerly known as the Financial Reporting Council) issued their first joint statement (Joint Statement). This comes less than a year after the new regulatory regime of the accounting profession came into operation 1.