Search Results for: Securities and Futures Commission (SFC)
SFC bans individual for one year and fines him $150,000
November 21st, 2016
The Securities and Futures Commission (SFC) has prohibited Mr Benedict Ku Ka Tat, a former employee of The Pride Fund Management Limited, from re-entering the industry for one year from 18 November 2016 to 17 November 2017 and fined ...
Court of Final Appeal dismissed leave application of C.L. Management Services Limited and its sole owner
November 15th, 2016
The Court of Final Appeal (CFA) has dismissed C.L. Management Services Limited (C.L. Management) and its sole owner and director Ms Clarea Au Suet Ming’s application for leave to appeal against their convictions for holding out to provide advisory ...
SFC reprimands and fines two JP Morgan entities HK$5.6 million for regulatory breaches
October 20th, 2016
The Securities and Futures Commission (SFC) has reprimanded J.P. Morgan Securities (Asia Pacific) Limited (JPMSAP) and JPMorgan Chase Bank, National Association (JPMCB), and fined them $3 million and $2.6 million respectively for regulatory breaches including disclosure failures in research ...
SFC reprimands and fines FXCM Asia Limited HK$4 million
October 19th, 2016
The Securities and Futures Commission (SFC) has reprimanded and fined FXCM Asia Limited (HK FXCM) (now known as Rakuten Securities Hong Kong Limited) HK$4 million for regulatory breaches in relation to its order execution practice for foreign exchange (Forex) ...
SFC commences cybersecurity review on brokers’ internet and mobile trading systems
October 13th, 2016
The Securities and Futures Commission (SFC) has launched a review to assess the cybersecurity preparedness, compliance and resilience of brokers’ internet and mobile trading systems (Note 1). The review followed a number of reports from securities brokers that the ...
SFC reprimands and fines HSBC $2.5 million for regulatory breaches
September 14th, 2016
The Securities and Futures Commission (SFC) has reprimanded and fined The Hongkong and Shanghai Banking Corporation Limited (HSBC) $2.5 million for regulatory breaches and internal control failings related to position limit failures. The disciplinary action follows an SFC investigation ...
SFC reprimands and fines BNP Paribas Wealth Management $4 million
August 31st, 2016
The Securities and Futures Commission (SFC) has reprimanded and fined BNP Paribas Wealth Management (BNPPWM) $4 million for overcharging its clients between 1 January 2011 and 31 December 2013 (Note 1). The SFC’s investigation found that at the material ...
SFC reprimands and fines Morgan Stanley
August 25th, 2016
The Securities and Futures Commission (SFC) has resolved its concerns with Morgan Stanley Hong Kong Securities Limited (MSHK) over its internal control failures. Under the resolution, the SFC reprimanded and fined MSHK $18.5 million for breaches of the Code ...
ADS Securities expands to full-service brokerage in Hong Kong
June 8th, 2016
ADS Securities, the Abu Dhabi-based international financial services firm, today announced that it had successfully secured its Type 1 and Type 2 regulatory licenses from the Hong Kong Securities and Futures Commission (SFC). With the addition of these licenses ...
SFAT affirms SFC decision to reprimand and fine Moody’s over Red Flags Report
April 6th, 2016
The Securities and Futures Commission (SFC) has reprimanded Moody’s Investors Service Hong Kong Limited (Moody’s) and fined it $11 million for various failures relating to its preparation and publication of the special comment report entitled “Red Flags for Emerging-Market ...
