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The Securities and Futures Ordinance provides a comprehensive framework for remedies, discipline and sanctions in relation to persons falling short of expected standards and practices.

  • A maximum of 2,000 words is
    permitted in this question. Footnotes are included in the word count.
    -Answers should not be footnoted except to acknowledge another person’s work. References to laws,
    regulations, case names and similar should be made in the body of
    the text, not in footnotes.
  • Text should be single-spaced in 10, 11 or 12-point type.

  • -The Exam question is as following:
    Chris: “The Securities and Futures Ordinance provides a comprehensive framework for remedies, discipline and sanctions in relation to persons falling short of expected standards and practices.”
    Nancy: “True, but it’s really how the Securities and Futures Commission (SFC) chooses to employ its powers
    that has the most significant bearing on Hong Kong’s securities industry.”
    Chris: “Maybe. I’ve heard some people criticize the SFC about how it’s used it powers.”
    Nancy: “There will always be critics. What they’ve done has been necessary to achieve its regulatory
    objectives.”

  • **Please comment on the above. Your views should be illustrated and supported with reference to specific laws,
    regulations, examples and/or such other considerations as
    you consider appropriate.
    The overall aim of the course is to develop an understanding of how the securities industry is regulated in Hong
    Kong. Coverage will include the markets in which different types of
    securities and investment products are offered and transacted, and the companies, financial intermediaries,
    service providers and investors involved.

  • The course will examine the core securities laws and regulations, in particular, the Securities and Futures
    Ordinance and regulatory codes issued by the Securities and
    Futures Commission will be considered in detail. The functions and nature of regulatory bodies, and the way
    securities markets such as The Stock Exchange of Hong Kong operate
    will be reviewed. The listed company context and the execution of IPO transactions will be studied.

  • The impact of regulation on the market and its intermediaries and its benefits and drawbacks for the marketplace
    will be considered.
    Please make reference to rules and regulations in SFO and specific cases and Code of Conduct (if necessarily)
    while answering this question.

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