The Securities and Futures Commission (SFC) has obtained a court order from the Court of First Instance (CFI) to appoint Ms. Chan Pui Sze and Ms. Mak Hau Yin from Briscoe Wong Advisory Limited as joint administrators of Vantage New Generation Securities Limited (VNGSL), previously known as Global Group Securities Limited. As administrators, Chan and Mak have been granted the authority to manage VNGSL’s assets and properties, including those held for clients or third parties, and to oversee the company’s operations as they see fit. The SFC believes that appointing administrators is necessary to ensure a smooth and prompt return of client properties, address client inquiries about their assets, and conduct investigations into VNGSL’s property, business, and affairs. Before seeking the court order, the SFC issued a restriction notice to VNGSL to safeguard client assets held by the broker.
Resource: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=23PR99
