SFC quarterly loss deepens to HK$111m

Business | 5 Dec 2019 5:57 pm

The Securities and Futures Commission's loss extended by 7.6 times year-on-year to HK$111 million for the quarter ended September.

Income for the quarter fell 9 percent to HK$378 million.

Expenses including depreciation grew by 9 percent to HK$489 million.

The number of licensees and registrants totaled 47,635, up 3.4 percent from last year, and the number of licensed corporations grew by 7.2 percent to 3,048.

The SFC carried out 106 on-site inspections of licensed corporations to review compliance, up 28.8 percent year-on-year.

The regulator also authorized 22 unit trusts and mutual funds and 80 unlisted structured investment products for public offering. Two private open-ended fund companies were registered and 86 new listing applications were vetted during the quarter.

Six licensed corporations and nine licensed representatives were disciplined, resulting in total fines of over HK$15 million, the SFC said.

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