Tag: SFC

April 11, 2023 BY Steffy Bogdanova

Gate.io’s Hong Kong crypto exchange to apply for SFC licences

The application follows the Trust and Corporate Service Provider (TCSP) licence from the Company Registry in Hong Kong, the group recently obtained, allowing it to offer virtual assets custody services. These licenses will allow the Group’s Hong Kong entity, Gate HK, to serve clients in the region and comply with the special administrative region's licensing…

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Hong Kong regulator SFC
March 06, 2023 BY Steffy Bogdanova

SFC bans former Citigroup Global Markets Asia officer for 10 years

When a trader told a client that CGMAL advertised facilitation flow using "Natural" IOIs, Shaw instructed the trader to deceive clients about the source of liquidity behind such IOIs. Furthermore, he misrepresented the client to maintain the falsehood created by the mislabeled IOI. Since at least 2015, Shaw has provided inaccurate information to clients or…

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November 25, 2022 BY Steffy Bogdanova

Hong Kong’s SFC issues risk management guidance for futures brokers

Furthermore, futures brokers would be required to insist on collecting outstanding margin calls from clients who failed to meet two margin calls by the settlement deadline in the preceding 30 calendar days. Where applicable, futures brokers will also be required to follow their in-house policies towards forced liquidation and they would also need to set…

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Hong Kong regulator SFC
September 30, 2022 BY Steffy Bogdanova

HK SFC charges thirteen people in a ramp-and-dump syndicate case

The SFC alleges that the syndicate members organised and executed the schemes in the shares of two Hong Kong-listed companies through different social media platforms. They manipulated the trading of a large volume of those shares by using a substantial number of nominee accounts. The regulator stated: In implementing the schemes, the syndicate members were…

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Hong Kong regulator SFC
July 19, 2022 BY Steffy Bogdanova

HK SFC bans former Standard Chartered Bank exec for three years

Afterwards, Lam transfered these amounts from the payroll accounts back into his mother’s personal bank account without the knowledge or authorisation of the five customers. According to the financial markets regulator, Lam’s mother aimed to improve his performance at SCB. As a result, the bank gave Lam $4,520 as additional quarterly incentive after including in…

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