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Hong Kong's market watchdog to meet brokers on “disruptive events” and lockdowns

Hong Kong's Securities and Futures Commission (SFC) has set a meeting with brokers this week to discuss the handling of “disruptive events” as the Asian financial hub faces its worst Covid-19 outbreak since the pandemic began. The agenda includes managing risks of business email leakage, brokerage insurance, and handling complaints. The SFC maintains a regular dialogue with the industry and the invitation made no mention of a lockdown. The city’s Chief Executive Carrie Lam earlier said that she had no plans for a citywide lockdown to rein in the current surge in infections. Banks and brokers already last month ramped up or extended efforts to protect their staff and business continuity in Hong Kong as the city’s fifth wave of infections emerged. Non-critical staff are working from home, while traders have been split into separate teams to avoid disruptions.

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