Monetary Authority takes disciplinary actions against three banks for contraventions of Anti-Money Laundering and Counter-Terrorist Financing Ordinance
July 24, 2025

On July 22, 2025, the Hong Kong Monetary Authority (HKMA) announced disciplinary actions against three banks: Indian Overseas Bank, Hong Kong Branch (IOBHK), Bank of Communications (Hong Kong) Limited (BCOM(HK)), and Bank of Communications Co., Ltd., Hong Kong Branch (BCOM Hong Kong Branch) for violations of the Anti-Money Laundering and [...]

Monetary Authority takes disciplinary action against 33 Financial Services Limited for contravention of Payment Systems and Stored Value Facilities Ordinance
July 24, 2025

On July 22, 2025, the Hong Kong Monetary Authority (HKMA) announced disciplinary action against 33 Financial Services Limited (33FS) for contravening the Payment Systems and Stored Value Facilities Ordinance (PSSVFO). The HKMA reprimanded 33FS and imposed a pecuniary penalty of HK$1,600,000 for failing to meet the minimum criteria under section [...]

Market Misconduct Tribunal finds Dan Form’s former company secretary and her Mainland associate culpable of insider dealing
July 18, 2025

The Market Misconduct Tribunal (MMT) has ruled that Ms. Cynthia Chen Si Ying, former company secretary of Asiasec Properties Limited (formerly Dan Form Holdings Company Limited), and her Mainland associate Mr. Wen Lide engaged in insider dealing involving the company’s shares. They were ordered to disgorge over $1 million in [...]

SFC bans Tong Ho Yin for nine years and fines him $350,000
July 18, 2025

The Securities and Futures Commission (SFC) has banned Mr. Tong Ho Yin, a former responsible officer of HF Asset Management Limited (HFAM), from returning to the financial industry for nine years and imposed a fine of $350,000 following his failure to act in the best interests of a managed fund [...]

Market manipulators sentenced to community service for up to 240 hours
July 11, 2025

The Eastern Magistrates’ Courts has sentenced Mr. Lin Tai Fung to 240 hours and his brother-in-law, Mr. Or Chun Nin, to 160 hours of community service for their roles in a conspiracy to commit false trading in shares of Pa Shun International Holdings Limited. Lin also pleaded guilty to failing [...]

SFC reprimands and fines Freeman Commodities Limited $3.4 million and suspends its former responsible officer for regulatory breaches
July 7, 2025

On July 3, 2025, the Securities and Futures Commission (SFC) reprimanded and fined Freeman Commodities Limited, now known as Arta Global Futures Limited, $3.4 million for regulatory breaches related to anti-money laundering and counter-financing of terrorism (AML/CFT) from June 2017 to December 2018. The SFC also suspended Mr. Li Chun [...]

Insurance Authority disciplines two licensed broker companies for failure to keep client monies separately and procure adequate professional indemnity insurance respectively
July 7, 2025

The Insurance Authority (IA) has publicly reprimanded Century Investment Planning Limited for failing to keep client monies separate from its own accounts, and fined another broker company $12,000 for not securing adequate professional indemnity insurance. Century Investment Planning misused client funds and failed to settle insurance premiums on time, violating [...]

SFC bans Law Man Wai for three years
June 20, 2025

The Securities and Futures Commission (SFC) has prohibited Law Man Wai, a former licensed representative of Cinda International Securities Limited, from re-entering the industry for three years due to misconduct involving wash and matched trades. From March to September 2023, Law executed 109 trades in accounts belonging to his sister [...]

SFC suspends Hadiee Chui Lai Chun for seven months
June 20, 2025

The Securities and Futures Commission (SFC) has suspended Hadiee Chui Lai Chun for seven months due to multiple breaches of Rifa Securities Limited’s staff dealing policy. Between September 2018 and September 2021, Chui failed to disclose a personal trading account, conducted 20 trades without approval, and did not report these [...]

Exchange’s Disciplinary Action against New Focus Auto Tech Holdings Limited (Stock Code: 360) and Seven Directors
June 19, 2025

The Stock Exchange of Hong Kong has imposed disciplinary actions against New Focus Auto Tech Holdings Limited and seven of its directors due to breaches of Listing Rules. The exchange criticized the company and issued a Director Unsuitability Statement against former independent directors Zhang Xiaoya and Shi Jing for failing [...]