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 […]

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 […]

The Hong Kong Securities and Futures Commission (SFC) has banned Mr He Zhi Hua, former chief executive officer of Ping An of China Securities (Hong Kong) Company Limited (Ping An), for 12 months from any regulated activities due to his role in contributing to serious internal control deficiencies and other matters at Ping An between […]

The Hong Kong Securities and Futures Commission (SFC) has announced that Mr Mok Kin Hung, a former employee of Dah Sing Bank, Limited, has been banned from re-entering the industry for life. Mr Mok was previously a relevant individual engaged by Dah Sing Bank to carry out the regulated activities of dealing in securities and […]