Hong Kong Regulations

LEVERAGED FOREIGN EXCHANGE TRADING (BOOKS, CONTRACT NOTES AND CONDUCT OF BUSINESS) RULES - SECT 18

Advertisements

Caution: This is a past version. See the current version here.

PART VI

MISCELLANEOUS

(1) Where a licensed trader issues an advertisement in relation to its
business, it shall ensure that-

   (a)  the advertisement is not misleading or deceptive; and

   (b)  the advertisement contains a risk disclosure statement as prescribed
        by section 7(2).

(2) The Commission may-

   (a)  prohibit the continued use of any advertisement by a licensed trader
        which contravenes subsection (1); or

   (b)  permit the use of such advertisement provided that-

        (i)    the licensed trader removes any reference in the advertisement
               which is misleading or deceptive;

        (ii)   the licensed trader reformulates any advertisement which is
               misleading or deceptive in such a way that it is no longer
               misleading or deceptive; and

        (iii)  the provisions of section 7(2) are satisfied.

(3) Where any advertisement by a licensed trader is prohibited under
subsection (2)(a), the licensed trader shall ensure that publication or
distribution of such advertisement is stopped immediately.

(4) Any material issued by the licensed trader which is intended to promote,
or which has the effect of promoting, interest in the business of the licensed
trader shall be deemed to be an advertisement for the purposes of this
section.

(5) If a licensed trader is aggrieved-

   (a)  where the Commission prohibits the use of any advertisement in
        relation to its business, by that prohibition; or

   (b)  where the Commission permits the use of such advertisement subject to
        any condition imposed under subsection (2)(b), by that imposition, it
        may appeal to the Securities and Futures Appeals Panel.

(6) An appeal referred to in subsection (5) shall not affect the coming into
force of any prohibition or imposition to which the appeal relates. (Enacted
1994)