sfc

A solicitor (attorney) who was advising a company on a proposed purchase of a large stake in another company has been accused of using non-public information to make share transactions and profit therefrom.

The Securities and Futures Commission (SFC) has issued restriction notices to nine brokers, prohibiting them from dealing with or processing certain assets held in their clients’ accounts which are related to suspected market manipulation in the shares of China Ding Yi Feng Holdings Limited (China Ding Yi Feng) between 2018 and early 2019

The SFC is at pains to point out that the nine brokers are not under any suspicion or any form of investigation.

Hong Kong's Securities and Futures Commission has suspended the former responsible officer of China Merchants Securities (HK) Co., Limited for compliance failures.

In 2011, Moody’s Investors Service Hong Kong Limited which along with many associated companies is generally known only as "Moody's," and which has forgone the sobriquet "ratings agency" in favour of the much more honest "ratings organisation", issued a document entitled "Red Flags for Emerging-Market Companies: A Focus on China." Ignoring, for the sake of simplicity, that the document referred to warning signs and not red flags in the true sense, it contained material that the Hong Kong Securities and Futures Commission (SFC) decided was not apt. That started a battle which continues.

The story of Warderly International Holdings Ltd is strange. Formed in 2002, it floated almost immediately. In 2007, shares were suspended when Hong Kong's Securities and Futures Commission raised questions about the management of the listed company and, as was learned much later, allegations of insider trading.

While Hong Kong's Securities and Futures Commission was investigating a case of suspected insider dealing, it traced funds to a clients' account by a third party, innocent, broker. The SFC has ordered the broker to block access to those funds and assets represented by part of the funds. There is something unusual about the process.

Hong Kong's Securities and Futures Commission has severely reprimanded Selina & Co Limited and reprimanded a director who, despite having responsibility for compliance matters, paid only nominal attention to those duties. It's the case that created new resolve at the SFC that compliance failures would no longer be dealt with by reprimand only.