SFC Investigations

When the Securities and Futures Commission commences an investigation under Part VIII of the Securities and Futures Ordinance (Cap. 571), the consequences can be significant — from compulsory interviews to criminal prosecution or proceedings before the Market Misconduct Tribunal. We advise individuals and firms on their rights and obligations throughout the investigation process.

Compulsory Interviews & Privilege

The SFC has broad investigatory powers, including the ability to compel individuals to attend interviews, produce documents, and answer questions. These powers are subject to important safeguards, including legal professional privilege and the privilege against self-incrimination — though the scope of these protections in the SFC context requires careful analysis. We advise on how to respond to section 183 notices, prepare clients for compulsory interviews, and help ensure that the rights of investigated persons are preserved throughout the process.

Market Misconduct & Disciplinary Proceedings

SFC investigations may lead to proceedings before the Market Misconduct Tribunal, criminal prosecution for offences such as insider dealing or market manipulation, or disciplinary action affecting a person's fitness and properness to hold an SFC licence. We advise on the implications of each pathway, assist with representations to the SFC, and help clients understand the potential impact on their regulatory standing and business operations under the Securities and Futures Ordinance and the SFC Code of Conduct.

If you have been contacted by the SFC or received a section 183 notice, get in touch for advice on your rights and next steps.