SFC to tighten rules on misleading names used by financial institutions

AI-assisted source summary · not independently verified. Content standards

SFC will pursue legislative amendments to restrict unregulated entities from using names that could lead the public to believe they are authorized by regulators. The amendments are intended to expand the list of restricted titles under the Securities and Futures Ordinance and add similar restrictions to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, covering virtual asset activities; SFC also accepted a recommendation to update the list more quickly.