The legal proceedings regard their alleged failure to prevent the misappropriation of HK$74.4 million in corporate funds. The SFC said it is seeking disqualification orders to bar the directors from serving in corporate roles and compensation orders to recover the lost funds.  The directors named in the case include Xu Zhigang, the company’s former CEO,…

The sites affected include four illegal financial intermediaries and one website promoting an unregistered brokerage platform, Consob said in a statement.  The move brings the total number of blacklisted sites to 1,252 since July 2019, when the regulator was given the authority to block financial websites it deems as fraudulent under the "Growth Decree" and…

The failures allegedly exposed sensitive client data over a four-year period. According to ASIC, FIIG failed to implement adequate cybersecurity measures between March 2019 and June 2023, allowing a hacker to infiltrate its IT network undetected for nearly three weeks.  This breach resulted in the theft of approximately 385GB of confidential data, affecting 18,000 clients,…