The Hong Kong regulator says the broker took HK$2.3 billion in suspicious deposits The Securities and Futures Commission (SFC) announced on Monday that it has fined Guosen Securities’ Hong Kong division 15.2 million Hong Kong dollars ($1.94 million) for violating anti-money laundering (AML) regulations. According to the SFC, Guosen processed over 10,000 third party deposits, for approximately […]

For all those that have been moving to Hong Kong, the following will be of great interest. As we all know Regulators in key markets around the world have increasingly looked for more effective ways to hold senior managers of financial institutions accountable for failings or wrongdoing within their institutions, driven by the belief that […]

The Hong Kong Securities and Futures Commission (SFC) has reprimanded and fined the brokerage arm of global financial institution HK$18.5 million over internal control failures in relation to conflicts of interest, insufficient documentation of its electronic trading systems, reporting failures in relation to short selling orders and large open positions, and breach of position limits. […]

The Hong Kong Securities and Futures Commission (SFC) has issued a circular reminding intermediaries of the importance of appropriate account opening procedures for investors in and outside Hong Kong in order to fully comply with the know your client (KYC) and account opening procedures requirements under The Code of Conduct for Persons Licensed by or […]