June 08, 2020 BY Steffy Bogdanova
Hong Kong regulator fines Potomac Capital Limited $800,000 for Financial Resources Rules violation
The exclusion of the aged fee receivables would have resulted in monthly liquid capital deficits ranging from $335,000 to $449,000 for Potomac from February to May 2017. The SFC found that Potomac had incorrectly included the fees receivables in its liquid capital for more than three years. However, the company has rectified the FRR breach.…
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