On June 12, 2025, the Securities and Futures Commission ("SFC") proposed to further restrict the use of misleading names by unregulated entities to enhance investor protection. The proposals aim to expand the current list of restricted titles under the Securities and Futures Ordinance ("SFO") to include terms associated with virtual asset trading platforms ("VATPs") and similar terms. The SFC invites public comments by August 11, 2025.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
On June 12, 2025, the Securities and Futures Commission ("SFC") announced a public consultation to restrict unregulated entities from misusing regulated names, aiming to prevent confusion and deception among the public.
To accomplish this, the SFC proposed expanding the current list of restricted titles under the Securities and Futures Ordinance ("SFO"). This includes addressing recent developments such as virtual asset trading platforms ("VATPs") and extending similar restrictions to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance ("AMLO").
The proposed amendments will target commonly used terms like 'exchange' and 'trading platform', as well as terms related to regulated financial products and platforms, such as 'virtual assets' and 'clearing facilities'.
Titles that may imply an association with established exchanges, VATPs, or similar entities are also subject to these restrictions. The SFC has invited public comment on these proposals, which can be submitted via their website, email, post, or fax by August 11, 2025.
View the full article:Source