The Securities and Futures Fee (SFC) of Hong Kong just lately launched its Strategic Priorities for the years 2024 to 2026. This doc outlines a complete technique aimed toward advancing Hong Kong’s securities markets, mitigating dangers, and enhancing investor safety in opposition to the backdrop of a dynamic world monetary panorama.
Key Focus Areas
The SFC’s strategic plan is anchored on 4 key areas:
Sustaining Market Resilience: The SFC goals to fortify Hong Kong’s monetary market infrastructure to assist sustainable development. This includes addressing rising dangers, enhancing danger administration amongst market intermediaries, and enhancing enforcement instruments to detect and counter misconduct.
Enhancing World Competitiveness: Hong Kong is ready to leverage its distinctive place as a gateway to Mainland China, aiming to broaden its investor base, improve IPO fundraising capabilities, and enhance market liquidity. This method is according to the SFC’s goal to strengthen Hong Kong’s position in RMB companies and danger administration, contributing to nationwide growth and monetary safety.
Embracing Innovation and Tokenization: The SFC plans to advance Hong Kong’s place in digital belongings, tokenization, and sustainable finance. Key initiatives embody advancing the regulatory framework for digital asset buying and selling platforms and increasing tokenization of conventional merchandise to reinforce investor safety.
Boosting Institutional Resilience and Effectivity: The SFC is targeted on enhancing operational effectivity, cyber resilience, and making certain sufficient monetary sources to fulfill its regulatory obligations successfully.
Chairman’s and CEO’s Views
Tim Lui, Chairman of the SFC, emphasised the Fee’s readiness to reply robustly to new regulatory challenges each domestically and internationally, shaping market developments. Julia Leung, the CEO, highlighted the SFC’s dedication to defending traders from monetary crimes and attaining constructive regulatory outcomes utilizing a complete vary of instruments and sources.
Technological Transformation
A major a part of the SFC’s technique includes embracing expertise and Environmental, Social, and Governance (ESG) initiatives. This consists of fostering a accountable fintech ecosystem and combating greenwashing, whereas nurturing sustainable finance expertise.
Conclusion
The SFC’s Strategic Priorities for 2024-2026 mark a pivotal step in aligning Hong Kong’s monetary sector with world developments and challenges. By specializing in resilience, competitiveness, innovation, and effectivity, the SFC is well-positioned to reinforce Hong Kong’s standing as a premier world monetary hub, making certain market integrity and investor safety.
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