The Securities and Futures Commission (SFC) is an independent statutory body established in 1989 to regulate Hong Kong's securities and futures markets. Its main goal is to maintain a fair, orderly, and transparent market environment while protecting investors and promoting market development. The SFC was created in response to the global stock market crash of 1987 and has since strengthened its role following the Asian financial crisis in 1997. The SFC's responsibilities include regulating and supervising listed companies and market participants, conducting market surveillance to identify misconduct, and promoting Hong Kong as an international financial center. It operates through four main divisions: Corporate Finance, Intermediaries and Investment Products, Enforcement, and Supervision of Markets. The SFC also provides regulatory guidance, issues licenses, and offers educational resources to enhance investor understanding and awareness in the financial markets.