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…
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The Court of First Instance has ordered Starlight Culture Entertainment Group Limited’s (Starlight) former chairman Mr Tong Shek Lun and two former executive directors, Ms Kinny Ko Lai King and Ms Regina Chung Wai Yu, to pay a sum of US$890,241.37 as compensation to Starlight following findings of misconduct in connection with their handling of…
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The Hong Kong Securities and Futures Commission (SFC) has informed that the Court of First Instance has ordered a former senior executive of an affiliate of Titan Petrochemical Group Limited (Titan), Mr Augustine Cheong Kai Tjieh and his mother, Ms Gan Ser Soon to pay investors after the Market Misconduct Tribunal (MMT) earlier found the…
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The Hong Kong Securities and Futures Commission (SFC) informed that it has reprimanded and fined Interactive Brokers Hong Kong Limited (IBHK) $4.5 million after resolving concerns over IBHK’s breaches of the Code of Conduct in its execution of market orders using electronic and algorithmic trading systems. The SFC’s disciplinary action followed two market disruption incidents…
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The Hong Kong Securities and Futures Commission (SFC) announced that it has resolved its concerns with Credit Suisse (Hong Kong) Limited (CSHK), Credit Suisse Securities (Hong Kong) Limited (CSSHK) and Credit Suisse AG (CSAG) (collectively, Credit Suisse) over internal control failures. Under the resolution, the SFC reprimanded and fined Credit Suisse a total of $39.3…
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The Court of First Instance (CFI) announced that it has granted orders sought by the Hong Kong Securities and Futures Commission (SFC) in its proceedings against Qunxing Paper Holdings Company Limited (Qunxing), its former chairman and vice-chairman – Mr Zhu Yu Guo and his son, Mr Zhu Mo Qun – as well as its subsidiary…
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The Hong Kong Securities and Futures Commission (SFC) has obtained an order in the High Court to disqualify Mr Fan Di, former chairman, president and executive director of Pearl Oriental Oil Ltd (Pearl Oriental) for defalcation, misfeasance and other misconduct towards the company. The Honourable Mr Justice Godfrey Lam granted the order to disqualify Fan…
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The Hong Kong Securities and Futures Commission (SFC) informed that it has reprimanded Mr Wu Hon Cheung, a former account executive of Sun Hung Kai Investment Services Limited (Sun Hung Kai), and fined him $50,000 for failing to keep proper records of a client’s order instructions, in breach of the Code of Conduct. The SFC…
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The China Securities Regulatory Commission (CSRC) and the Hong Kong Securities and Futures Commission (SFC) jointly announced today that they have entered into a Memorandum of Understanding on Supervisory and Enforcement Cooperation on Matters concerning Futures (MoU). The MoU facilitates regulatory and enforcement cooperation in the Mainland and Hong Kong futures markets, and enhances supervisory…
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The Court of First Instance informed that it has allowed the Hong Kong Securities and Futures Commission’s (SFC) appeal against the acquittal of Mr Wong Hung of illegal short selling and ordered that the case be remitted back to the Magistrates’ Court for a re-trial. In May 2014, the Eastern Magistrates’ Court acquitted Wong on…
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