Hong Kong’s SFC Proposes Changes to Investor Compensation Regime

[kreslik.news]

The Securities and Futures Commission (SFC), an independent statutory body that regulates Hong Kong’s securities and futures markets, announced on Friday that it is considering changes to its Investor Compensation Regime (ICR).

Launched in April 2003 in conjunction with the Securities and Futures Ordinance, the ICR enables retail investors to receive compensation from defaulting companies. These companies must belicensed intermediaries or authorized financial institutions in Hong Kong, and the investor must have been trading in exchange-traded products.

Since its inception, ICR legislation has enabled claimants to receive a maximum of 150,000 HKD ($19,100), but Friday’s announcement suggests ... (read more)