SFC reprimands and fines Ninety One Hong Kong Limited $1.4 million for unlicensed futures trading


Ninety One Hong Kong Limited (NOHK) has been fined $1.4 million by the Securities and Futures Commission (SFC) for executing futures trades without the required license. The SFC found that NOHK traded futures contracts for portfolios managed by its three overseas affiliates between April 2014 and January 2020 in violation of SFO and the Code of Conduct. Despite the breach, the SFC considered factors such as NOHK’s lack of intentional wrongdoing, no client loss, prompt reporting, and cooperation in resolving the issue, and an otherwise clean disciplinary record when deciding on the sanction.

resource: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=23PR30


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