The Securities and Futures Commission (SFC) has given Global Group Securities Limited (GGSL) a notice to restrict them from carrying out regulated activities, and disposing of or dealing with any property held by them or on behalf of their clients without prior consent from the SFC. This notice has been issued to preserve client assets held by the broker, and the SFC believes that it is in the public interest. The investigation by SFC is still ongoing.
resource: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=23PR61