On July 23, 2025, the Securities and Futures Commission (SFC) announced the successful distribution of approximately $19 million in assets to clients of Hong Kong Wan Kiu Investment Company Limited (HKWK) by court-appointed administrators, following a January 2025 approval from the Court of First Instance. This action stemmed from an SFC investigation into financial irregularities involving HKWK and its sole director, Connie Sham Khi Rose, who sold client securities without authorization, misappropriated the proceeds, and falsified client statements. Sham was criminally prosecuted and pleaded guilty to misappropriating around $58 million in client assets between 2011 and 2019, resulting in a July 3, 2025, sentence of 160 hours of community service. The SFC emphasized its commitment to market integrity and investor protection, reinforcing its stance against dishonest practices.
Resources: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=25PR117
