[The Hong Kong Securities and Futures Commission and the police work together to protect investors]
Strengthen vigilance and work together to combat virtual asset violations
After a high-level meeting on September 28, 2023, the Hong Kong Police Force and the Securities and Futures Commission jointly established a dedicated working group to focus on the enforcement and supervision of virtual asset transactions.
The three major goals of the working group are as follows:
- Information sharing: Optimize the flow of suspicious activities and violation information involving virtual asset trading platforms (VATPs) to quickly respond to new threats.
- Risk identification: Establish a mechanism to assess the risks of suspicious VATPs, and identify and respond to potential risks at all times.
- Coordination and linkage: Strengthen investigation cooperation with virtual asset trading platforms, and gather resources and expertise from all parties to maintain the industry regulatory structure.
Investors’ rights come first
Assistant Commissioner of Police Chung Sze-yan emphasized the importance of this cooperation, stating: "Through the new cooperation platform between the police and the Securities and Futures Commission, intelligence can be quickly exchanged to jointly address the challenges brought by virtual asset transactions and further protect Hong Kong citizens. .”
This cooperation symbolizes significant progress in combating illegal activities in the virtual asset industry and demonstrates the firm commitment of Hong Kong’s regulatory and law enforcement agencies to protecting investors and the financial ecosystem.
Wilson Christopher, Executive Director of the SFC’s Enforcement Division, also reiterated the close cooperation between the SFC and the police and looked forward to further cooperation in the future.
He said: "We have always valued our cooperation with the police and look forward to working together more deeply to jointly leverage our respective expertise and advantages in combating bad VATPs and safeguarding the interests of investors."
#鴉快訊
Strengthen vigilance and work together to combat virtual asset violations
After a high-level meeting on September 28, 2023, the Hong Kong Police Force and the Securities and Futures Commission jointly established a dedicated working group to focus on the enforcement and supervision of virtual asset transactions.
The three major goals of the working group are as follows:
- Information sharing: Optimize the flow of suspicious activities and violation information involving virtual asset trading platforms (VATPs) to quickly respond to new threats.
- Risk identification: Establish a mechanism to assess the risks of suspicious VATPs, and identify and respond to potential risks at all times.
- Coordination and linkage: Strengthen investigation cooperation with virtual asset trading platforms, and gather resources and expertise from all parties to maintain the industry regulatory structure.
Investors’ rights come first
Assistant Commissioner of Police Chung Sze-yan emphasized the importance of this cooperation, stating: "Through the new cooperation platform between the police and the Securities and Futures Commission, intelligence can be quickly exchanged to jointly address the challenges brought by virtual asset transactions and further protect Hong Kong citizens. .”
This cooperation symbolizes significant progress in combating illegal activities in the virtual asset industry and demonstrates the firm commitment of Hong Kong’s regulatory and law enforcement agencies to protecting investors and the financial ecosystem.
Wilson Christopher, Executive Director of the SFC’s Enforcement Division, also reiterated the close cooperation between the SFC and the police and looked forward to further cooperation in the future.
He said: "We have always valued our cooperation with the police and look forward to working together more deeply to jointly leverage our respective expertise and advantages in combating bad VATPs and safeguarding the interests of investors."
#鴉快訊