Compliance updates
SFC alerts the public of unauthorised investment schemes
September 1, 2021

The investment arrangements included in this alert list have come to the SFC’s attention through enquiries or complaints. They display certain characteristics of a “collective investment scheme”(CIS) as defined under the Securities and Futures Ordinance (SFO). As they are not authorised by the SFC, they may not be offered to [...]

enforcement
Market Misconduct Tribunal sanctions China Medical & HealthCare Group Limited and its directors for late disclosure of inside information
May 12, 2021

12 May 2021 The Market Misconduct Tribunal (MMT) has fined China Medical & HealthCare Group Limited, formerly known as COL Capital Limited (COL), and six of its former and current directors a total of $4.2 million for failing to disclose inside information as soon as reasonably practicable following proceedings brought [...]

Market Misconduct Tribunal sanctions two former executives for insider dealing in Asia Telemedia Limited shares
April 7, 2021

[Enforcement] 7 Apr 2021 The Market Misconduct Tribunal (MMT) has sanctioned two former executives of Asia Telemedia Limited (ATML) (now known as Yunfeng Financial Group Limited) – Mr Charles Yiu Hoi Ying and Ms Marian Wong Nam – following legal proceedings brought by the Securities and Futures Commissions (SFC) . [...]

enforcement update
SFC reprimands and fines Brilliance Asset Management Limited $3.15 million over short position reporting failures
February 22, 2021

 22 Feb 2021  The SFC has reprimanded Brilliance Asset Management Limited (Brilliance) and fined it $3.15 million over failures to ensure short position reports (SPRs) for four collective investment schemes (CISs) under its management were accurate and compliant with the requirements under the Securities and Futures (Short Position Reporting) Rules [...]

SFC issues restriction notices to two brokers to freeze client accounts linked to suspected social media ramp-and-dump scam
February 9, 2021

9 Feb 2021 The Securities and Futures Commission (SFC) has issued restriction notices to Enlighten Securities Limited and Futu Securities International (Hong Kong) Limited, prohibiting them from dealing with or processing certain assets held in three trading accounts, which are related to a suspected social media ramp-and-dump scam involving the [...]

enforcement
Market Misconduct Tribunal sanctions Li Yik Shuen for insider dealing in Meadville Holdings Limited share
February 3, 2021

3 Feb 2021 The Market Misconduct Tribunal (MMT) has ordered that Ms Li Yik Shuen be banned from dealing in securities in Hong Kong for two years, effective from 2 February 2021, after finding her culpable of engaging in insider dealing in the shares of Meadville Holdings Limited (Meadville) following [...]

EXCHANGE’S DISCIPLINARY ACTION AGAINST SANDMARTIN INTERNATIONAL HOLDINGS LIMITED (STOCK CODE: 482) AND EIGHT OF ITS CURRENT AND FORMER DIRECTORS
January 11, 2021

22 Jan 2021  This case involves a settlement between the Company, the Relevant Directors (apart from Mr Han) and the Listing Division in respect of their Listing Rule breaches arising from the events and conduct described below. The Exchange found that the Company failed to announce the acquisition of a [...]

SFC reprimands and fines Fulbright Securities Limited $3.6 million
December 23, 2020

 23 Dec 2020 SFC has reprimanded Fulbright Securities Limited (Fulbright) and fined it $3.6 million for internal control failures relating to short selling and for failing to report related short-selling incidents to the SFC in a timely manner as required by the SFC’s Code of Conduct. The SFC’s investigation found [...]

enforcement update
SFC commences legal proceedings against New Ray Medicine International Holding Limited and its former top executives
December 7, 2020

30 Nov 2020 Company involved: New Ray Medicine International Holding Limited People involved: Mr Zhou Ling, and the company’s former chief executive officer and executive director, Mr Dai Haidong Penalty: A court order in the legal proceedings for Zhou to pay compensation to New Ray Summary: SFC has commenced legal [...]

SFC publicly censures Ngai Lai Ha and imposes a cold-shoulder order for breach of the Takeovers Code
November 2, 2020

2 Nov 2020 Company involved: International Housewares Retail Company Limited People involved: Ms Ngai Lai Ha, the chairperson and executive director of International Housewares Retail Company Limited Penalty: SFC publicly censured and imposed an 18-month cold-shoulder order against Ms Ngai Lai Ha Summary: The SFC has publicly censured and imposed [...]