Tag: SFC

Hong Kong SFC
February 14, 2017 BY Valentina Kirilova

SFC withdraws Restriction Notice issued to a broker in connection with client’s suspected insider dealing

The Securities and Futures Commission (SFC) has withdrawn the Restriction Notice issued to Kingsway Financial Services Group Limited (KFS) in connection with a client account that holds proceeds of suspected insider dealing in the shares of TeleEye Holdings Limited. The withdrawal of the Restriction Notice came after the SFC obtained court orders to prevent dissipation…

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Hong Kong SFC
February 13, 2017 BY Valentina Kirilova

SFC seeks court orders against former chairman of Kong Sun Holdings Ltd and China Sandi Holdings Ltd

The Securities and Futures Commission (SFC) has commenced legal proceedings in the Court of First Instance to seek disqualification and compensation orders against Mr Tse On Kin, former chairman and executive director of Kong Sun Holdings Limited (Kong Sun) and China Sandi Holdings Limited (China Sandi), for devising a scheme to conceal his interests in…

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sfc bans
February 13, 2017 BY Valentina Kirilova

SFC bans a former employee of HSBC for life

The Securities and Futures Commission (SFC) has banned Ms Li Lee, a former employee of The Hongkong and Shanghai Banking Corporation Limited (HSBC), from re-entering the industry for life following her criminal convictions. The District Court earlier found that Li, who was responsible for selling and promoting investment and insurance products at HSBC at the…

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sfc warning
February 10, 2017 BY Valentina Kirilova

Hong Kong SFC adds Seres Bio to its alert list

Hong Kong’s financial regulator the Securities and Futures Commission (SFC) has updated its Alert List, which features the names of businesses that are unlicensed in Hong Kong and are believed to be, or to have been, targeting Hong Kong investors or claim to have an association with Hong Kong. Added to the SFC Alert List…

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February 09, 2017 BY Valentina Kirilova

SFC reprimands and fines GMO-Z.com Forex HK Limited $1.6 million

The Securities and Futures Commission (SFC) has reprimanded and fined GMO-Z.com Forex HK Limited (GMOHK) $1.6 million for deficiencies in its order execution and slippage handling procedures, and failures in its electronic trading system for leveraged foreign exchange contracts. In August 2016, the SFC and GMOHK jointly engaged an independent reviewer to review GMOHK’s controls,…

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Hong Kong SFC
February 07, 2017 BY Valentina Kirilova

MMT finds Mayer Holdings Ltd culpable of late disclosure of inside information

The Market Misconduct Tribunal (MMT) today found that Mayer Holdings Limited and nine of its current and former senior executives failed to disclose inside information as soon as reasonably practicable as required under the Securities and Futures Ordinance (SFO) following proceedings brought by the Securities and Futures Commission (SFC). The current and former senior executives…

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sfc warning
February 07, 2017 BY Valentina Kirilova

Hong Kong SFC adds Castle Holdings Limited to its alert list

Hong Kong’s financial regulator the Securities and Futures Commission (SFC) has updated its Alert List, which features the names of businesses that are unlicensed in Hong Kong and are believed to be, or to have been, targeting Hong Kong investors or claim to have an association with Hong Kong. Added to the SFC Alert List…

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Mt. Gox trustee granted another delay for distribution plan for victims
January 27, 2017 BY Valentina Kirilova

Hong Kong brokers repeatedly attacked by hackers

Hong Kong's securities regulator SFC said brokers in the city had suffered cyber attacks and warned of possible further incidents across the industry, Reuters reported earlier today. Regulators in Hong Kong have been stepping up efforts over the past year to combat the growing menace of cyber attacks on companies. A survey in November showed…

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January 25, 2017 BY Valentina Kirilova

SFC reprimands and fines Value Partners $4 million

The Securities and Futures Commission (SFC) has reprimanded Value Partners Limited (VPL) and Value Partners Hong Kong Limited (VPHKL) (collectively, Value Partners), and fined them $2 million respectively for failures to comply with the regulatory requirements in managing two SFC-authorized funds. The SFC found that the two funds, namely, Value Partners China Greenchip Fund Limited…

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