New Draft Regulations on Securities and Futures Promulgated in HKThe new Draft Regulations on Securities and Futures, after a round of consultation for amendment and revision, have been published in Hong Kong. Andrew Sheng Len Tao, chairman of Hong Kong Securities and Futures Commission (HKSFC) said that the new draft is expected to be approved next April.The new draft regulations have brought the existing 10 different articles and clauses into one with some alterations made to streamline the original ordinances in order to strengthen safeguarding the interests of investors. As regards whether HKSFC will strengthen supervision over such activities as online trading that are increasing day by day, a person in charge said that the commission has already introduced guidelines 18 month ago. A system has ever since been set up for 24-hour monitoring the online transactions, and the commission has so far checked out three illegal brokers engaged in online transactions. By PD Online staff member Li Yan |
| People's Daily Online --- http://english.peopledaily.com.cn/ |