SFC Issues Further Notices to Brokers for Client Misconduct

The Securities and Futures Commission (SFC) in Hong Kong introduced this Friday that it has issued restriction notices to a few brokers as a result of the regulator believes a few of their purchasers have engaged in suspicious exercise.

The three brokers in query are Changjiang Securities Brokerage (HK) Limited, Haitong International Securities Company Limited and Kingston Securities Limited. The SFC has issued the restriction notices because it believes it’s within the public’s greatest curiosity.

Asia Trading Summit – The Leading Investment Event in China

According to the assertion, the restriction notices prohibit the brokers from: “coping with or processing sure belongings held in varied consumer accounts that are associated to the suspected disclosure of false or deceptive monetary info in varied bulletins, annual outcomes and annual experiences of a listed firm, which was more likely to induce transactions.”

The restriction notices are a results of an ongoing investigation into suspected market misconduct. However, this investigation didn’t deal with the brokers, solely on sure purchasers. The SFC highlights that the restriction notices is not going to affect the dealer’s operations nor their different purchasers which aren’t suspected of market misconduct.

Specifically, as per the restriction notices, the three brokers are prohibited, except the SFC’s prior written consent has been given, with: “disposing of or coping with, helping, counselling or procuring one other individual to eliminate or cope with, sure belongings in any manner within the consumer accounts…”

The notices have been issued below part 204 of the Securities and Futures Ordinance (SFO). All three brokers are regulated and licensed below the SFO to conduct monetary actions inside Hong Kong.

SFC Issues Restriction Notices in January

At the start of this yr, the SFC issued an identical restriction discover to a few different brokers – Fulbright Securities Limited, Futu Securities International (Hong Kong) Limited and Gong Ping Securities Limited, as Finance Magnates reported.

The restrictions from the Hong Kong regulator is similar to these issued immediately and may very well be from the identical ongoing investigation into market misconduct.

!perform(f,b,e,v,n,t,s){ if(f.fbq)return; n=f.fbq=perform(){ n.callMethod?n.callMethod.apply(n,arguments):n.queue.push(arguments)}; if(!f._fbq)f._fbq=n; n.push=n; n.loaded=!0; n.model=’2.0′; n.queue=[]; t=b.createElement(e); t.async=!0; t.src=v; s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)}(window,doc,’script’,’https://join.fb.web/en_US/fbevents.js’); fbq(‘init’, ‘2151954781716318’); fbq(‘init’, ‘1802203759860657’); fbq(‘observe’, ‘PageView’);

Show More


David is the founder of The firm originates business financing for companies of all size in the Canadian marketplace . Originations include business loans, term loans, asset based lines of credit, SR ED Tax credit financing , and receivable financing .

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *


Adblock Detected

Please consider supporting us by disabling your ad blocker