Tag: Hong Kong SFC fines

DFSA
May 10, 2017 BY Valentina Kirilova

SFC reprimands and fines Promising Securities Company Limited $3.5 million

The Hong Kong Securities and Futures Commission (SFC) has reprimanded and fined Promising Securities Company Limited $3.5 million for breach of the Code of Conduct and the Management, Supervision and Internal Controls Guidelines. The SFC’s disciplinary action arose from a self-report by Promising in 2014 that a settlement staff had misappropriated client assets following an…

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April 05, 2017 BY Valentina Kirilova

SFC fines Guoyuan Securities Brokerage Limited $4.5 million

The Securities and Futures Commission (SFC) just announced that has reprimanded Guoyuan Securities Brokerage (Hong Kong) Limited and fined it $4.5 million for its failure to conduct proper enquiries and scrutiny to mitigate the risks of money laundering and terrorist financing when processing third party fund transfers for clients between September 2010 and July 2012.…

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January 06, 2017 BY Valentina Kirilova

SFC reprimands and fines an employee of Core Pacific – Yamaichi International (HK) Limited

The Securities and Futures Commission (SFC) has reprimanded and fined Mr Chang Chyi, an employee of Core Pacific – Yamaichi International (HK) Limited (Core Pacific), $50,000 for breach of the SFC’s Code of Conduct. The SFC’s investigation into suspected uncovered short selling of the shares of China Agri-Products Exchange Limited (China Agri-Products) found that Chang…

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