SFC forbids Interactive Brokers Hong Kong Ltd to deal with certain assets

Hong Kong SFC

The Hong Kong Securities and Futures Commission (SFC) just informed the public that it has issued a restriction notice to Interactive Brokers Hong Kong Limited (IBHK), prohibiting it from dealing with or processing certain assets held in a client account (the Client Account) which is related to suspected insider dealing in the shares of Bloomage BioTechnology Corporation Limited between 22 May and 15 June 2017.

The SFC is not investigating IBHK, which has cooperated with the SFC in an ongoing investigation. The restriction notice does not affect IBHK’s operations or its other clients.

The restriction notice prohibits IBHK, without the SFC’s prior written consent, from disposing of or dealing with, assisting, counselling or procuring another person to dispose of or deal with any assets in any way in the Client Account, including:

  • entering into transactions for any securities; and/or
  • processing any withdrawals or transfers of securities and/or cash or any transfers of money arising from the disposal of securities; and/or
  • disposing of or dealing with any securities or cash on the instructions of any authorised person of the Client Account or by any person acting on their behalf; and/or
  • assisting another person to dispose of or deal with any relevant property in a specified manner. The broker is also required to notify the SFC if it receives any of these instructions.

The SFC considers that the issue of the restriction notice is desirable in the interest of the investing public or in the public interest.

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