The full name of the Hong Kong Securities and Futures Commission is the Hong Kong Securities and Futures Commission. It is an independent statutory body responsible for ensuring licensed market operations, enforcing various laws and regulations related to the securities and futures markets, and supervising the market. The SFC’s regulatory targets include the Hong Kong Stock Exchange, its subsidiaries (including securities and futures exchanges and related clearing houses), financial intermediaries (such as securities firms including exchange participants, sponsors, share registrars, funds managers and investment advisers) and investors.

The statutory regulatory objectives of the Hong Kong Securities and Futures Commission are:

·Maintain and promote the fairness, efficiency, competitiveness, transparency and order of the securities and futures industry;

·Increase the public’s understanding of the operations and functions of the securities and futures industry;

·Provide protection to the public who invest in or hold financial products;

·Minimize the risks involved in the securities and futures industry Criminal conduct and misconduct; · Reduce systemic risks in the securities and futures industry;

· Take appropriate steps related to the securities and futures industry to assist the Financial Secretary in maintaining Hong Kong's financial stability.

The full name of Hong Kong Exchanges and Clearing Limited is Hong Kong Exchanges and Clearing Limited. It is the operating agency of Hong Kong’s computerized securities and derivatives markets and the frontline regulator of listed issuers (including listed companies). The Hong Kong Stock Exchange was listed on its securities market on June 27, 2000. The main responsibilities of HKEx include: regulating listed issuers; enforcing listing, trading and settlement rules; and providing services to clients of the exchange and clearing houses, primarily at the institutional level. Customers of exchanges and clearing houses include issuers and intermediaries that directly serve investors, such as investment banks or sponsors, securities and derivatives brokers, custodian banks and information providers. The services provided by exchanges and clearing houses include trading, clearing and settlement, custody and agency, and information services.