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Regulatory philosophy

The following principles guide us in carrying out our duties:

Stay firm but fair

We strive to regulate in a firm, fair, transparent and accountable manner. Not only do we take firm and decisive enforcement action against misconduct, but we also engage in more proactive oversight of listed companies' conduct and activities in order to facilitate investor protection, market development and the continuing vibrancy of Hong Kong's markets.

Focus on risk

We identify and then focus our attention and resources on areas considered to be of higher risk. In addition, we encourage industry participants to develop a robust compliance culture. In view of fast-changing market conditions and practices, we adopt a principles-based approach to set out requirements at a higher level, which can then be articulated by detailed codes, guidelines and rules.

Form partnerships

We achieve our objectives of protecting investors and encouraging market development by building strong relationships with those we regulate. We seek to ensure a robust and vibrant market through forming partnerships and cooperating with other regulators, intermediaries and investors.

Translate principles into action

The actions we take reflect the principles behind our regulatory philosophy:

  • Firmness - We take firm and appropriate action against those who harm investors or damage market integrity, regardless of their position or status.
  • Fairness - We treat everyone fairly, taking into account the requirements of procedural fairness and natural justice in our decision-making processes.
  • Consistency - We strive to be consistent in our decisions and actions while keeping in mind the specific circumstances of each case.
  • Negotiate, not dictate - We believe open dialogue and negotiation produce more efficient and satisfactory results.

Last update: 30 Jan 2015

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