(Business Law Currents) – The Hong Kong Securities and Futures Commission (SFC) is putting the clamp on white collar criminals. Seeking to deprive convicted offenders of their freedom as well as their illicit gains, the watchdog is cracking down hard on insider dealing in the special administrative region. Recent disciplinary actions initiated by the watchdog are sending a strong message that all inside deals, even small missteps, will be prosecuted to the full extent of the law.
As previously told to Compliance Complete by former SFC head Martin Wheatley, the Commission has consciously endeavored to use criminal proceedings to deal with insider dealing in Hong Kong. The watchdog’s increasingly tough stance has put companies of all sizes on high alert. (more…)