{
  "node_id": "hk-sfc-securities-futures-ordinance-2003",
  "title": "Hong Kong Securities and Futures Ordinance (SFO) Cap. 571 - Licensing and Market Conduct",
  "domain": "Banking & Global Finance",
  "version": "1.1.1",
  "last_updated": "2026-04-30",
  "bluf": "The Hong Kong Securities and Futures Ordinance (SFO, Cap. 571) is the primary statute governing securities and futures markets in Hong Kong. It requires intermediaries to be licensed under one of ten Regulated Activities (RAs) by the Securities and Futures Commission (SFC), prohibits insider dealing (Parts XIII-XIV), prohibits market misconduct (false trading, price rigging, stock market manipulation), mandates short position reporting above 0.02% of outstanding shares or HKD 30 million, and regulates collective investment schemes (funds). The SFC supervises licensed intermediaries through ongoing supervision, inspections, and enforcement. Hong Kong Exchanges and Clearing Limited (HKEX) is the recognised exchange operator.",
  "paywall": {
    "status": "LOCKED",
    "unlock_cost_usd": "0.01",
    "skyfire_id": "41779894-ece2-4163-9761-b3b1b76e19b0"
  },
  "crosswalks": {
    "_available_keys": [
      "iso_standard",
      "eu_regulation",
      "us_equivalent",
      "uk_equivalent",
      "global_framework"
    ],
    "_note": "Full crosswalk values included in vault response"
  },
  "dependencies": [
    "eu-market-abuse-regulation-596-2014",
    "eu-capital-requirements-directive-iv-2013-36-crd4",
    "eu-aifmd-directive-2011-61"
  ],
  "primary_citations_count": 5
}