AIMA

The Alternative Investment Management Association

Alternative Investment Management Association Representing the global hedge fund industry

Hong Kong Short Selling Regulation

Since the Asian financial crisis of 1998, Hong Kong has maintained an enhanced short-selling regime which subjects those in breach to criminal sanctions.

In order to strengthen transparency in relation to short positions, however, the Securities and Futures Commission (SFC) undertook a series of public consultations between 2009 and 2011. AIMA responded to each. After consideration of the responses received to the respective consultations, new rules were agreed upon and adopted. The ‘Securities and Futures (Short Position Reporting) Rules’ entered into effect on 18 June 2012. 


Key legislative documents

Hong Kong Securities and Futures (Short Position Reporting) Rules (June 2012)


Relevant consultations

SFC Conclusions on Further Consultation on the Securities and Futures (Short Position Reporting) Rules (February 2012)

SFC Consultation Conclusions and Further Consultation on Short Position Reporting Rules (October 2011)

SFC Consultation on Short Position Reporting Rules (May 2011)

SFC Consultation on Increasing Short Position Transparency (July 2009)


AIMA documents

Response to Further SFC Consultation on Short Position Reporting  (November 2011)

Response to SFC Consultation on Short Position Reporting (June 2011)

Response to SFC Consultation Increasing Short Position Transparency  (October 2009)


Other documents

SFC Information and Materials on Short Position Reporting (September 2012)

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  1. AIMA's Policy Principles
  2. Asset Management Regulation
    1. EU Asset Management Regulation
      1. AIFMD
      2. European Capital Markets Regulation
      3. MiFID / MiFIR
      4. UCITS
        1. ETFs and Structured UCITS
      5. Venture Capital
    2. US Hedge Fund Adviser Regulations
      1. Registration and Reporting
      2. Incentive-Based Compensation
      3. JOBS Act
    3. Asia Pacific Asset Management regulation
    4. Other Jurisdictions’ Asset Management Regulation
    5. Regulation of NBFCs / SIFIS
    6. Supervision
      1. UK regulatory reform
      2. European Supervisory Authorities
      3. US Self-Regulatory Organisations
    7. Remuneration
      1. UK
      2. US
      3. CRD IV and CRR
      4. AIFMD
      5. MiFID
    8. Shadow Banking
    9. Volcker Rule
    10. Other
  3. Markets Regulation
    1. Bank/Capital Regulation
      1. Capital Requirements Directive
      2. EU Bank Structural Reforms
    2. Derivatives/Clearing
      1. EMIR
        1. EMIR Level 1
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      2. MiFID / MiFIR
      3. MAD / MAR
      4. Dodd-Frank Act Title VII
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      6. IOSCO
      7. Singapore
    3. High Frequency Trading
      1. ESMA Guidelines
      2. MiFID / MiFIR
      3. MAD / MAR
      4. Flash Crash
      5. IOSCO
      6. Germany
      7. CFTC Automated Trading
    4. Insurance Regulation
      1. Solvency II
    5. Market Abuse
      1. MAD / MAR
      2. Indices as Benchmarks
    6. Position Limits
      1. MiFID / MiFIR
      2. CFTC Position Limits
    7. Resolution of Financial Institutions
      1. Europe
        1. EU Bank Recovery and Resolution Directive
        2. EU Non-Bank Recovery and Resolution
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      4. UK
      5. USA
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      2. Hong Kong Short Selling Regulation
      3. US Short Selling Regulation
      4. Short Selling Bans
    9. Securities Settlement
    10. Shadow Banking
      1. International Shadow Banking
      2. EU Shadow Banking
    11. Trading
      1. MiFID / MiFIR
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        2. MiFIDII MiFIR Level 2 Consultations, legislative process and related AIMA documents
      2. Dodd-Frank Act
  4. Tax Affairs
    1. EU Savings Directive
    2. FAIFs and FINROFs
    3. FATCA
    4. FIN 48 and IAS 12
    5. Financial Transaction Tax
    6. Investment Manager Exemption
    7. UK Offshore Funds Regime
    8. Other
  5. Search
  6. Resources
    1. Guidance Notes
    2. Jurisdictional Guides
    3. Noticeboard
      1. FATCA
      2. Other Hot Asset Management Topics
      3. Other Hot Markets Topics
      4. UK Partnership Tax Review
      5. Volcker Rule
    4. Hedge Fund Manager Training
    5. Quarterly Regulatory Update
    6. Webinar Programme