Definition:
The Securities and Futures Commission (SFC) is a regulatory body responsible for overseeing the securities and futures markets in certain jurisdictions, ensuring fair and transparent financial markets.

Contextual Explanation:
The SFC regulates financial intermediaries, enforces securities laws, and protects investors from market misconduct. Payment and fintech companies dealing with securities-related services may need to comply with SFC regulations.

Why It Matters:
Non-compliance with SFC regulations can lead to legal penalties, loss of operating licenses, and reputational damage