Newsletter – February 2020
- SFC bans Christopher Tse for 12 months
- SFC reprimands and fines BMI Securities Limited HK$3.7 million and suspends its responsible officer for breaches of anti-money laundering regulatory requirements
- SFC reprimands and fines Capital Global Management Limited HK$1.5 million
- Court dismisses challenge to SFC’s investigative powers
On 6 February 2020, the SFC has banned Mr. Christopher Tse, a former research analyst at RHB Securities Hong Kong Limited, from re-entering the industry for 12 months from 31 January 2020 to 30 January 2021.
For more details, please refer to:
https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=20PR12
For the SFC’s circular dated 14 September 2018, please refer to:
https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=20PR1
For the Statement of Disciplinary Action, please refer to:
https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/openAppendix?refNo=20PR12&appendix=0
2. SFC reprimands and fines BMI Securities Limited HK$3.7 million and suspends its responsible officer for breaches of anti-money laundering regulatory requirements
On 11 February 2020, the SFC has reprimanded and fined BMI Securities Limited HK$3.7 million for failures in complying with anti-money laundering and counter-terrorist financing regulatory requirements.
For more details, please refer to:
https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=20PR15
For the Statement of Disciplinary Action, please refer to:
https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/openAppendix?refNo=20PR15&appendix=0
3. SFC reprimands and fines Capital Global Management Limited HK$1.5 million
On 14 February 2020, the SFC has reprimanded and fined Capital Global Management Limited HK$1.5 million for its failures to ensure compliance with applicable laws and regulations in distributing investment funds and offering investment advice in Taiwan, and to adequately supervise the business activities of its representatives to ensure such compliance.
For more details, please refer to:
https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=20PR16
For the SFC’s circular dated 28 January 2014, please refer to:
https://www.sfc.hk/edistributionWeb/gateway/EN/circular/intermediaries/supervision/doc?refNo=14EC4
For the Statement of Disciplinary Action, please refer to:
https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/openAppendix?refNo=20PR16&appendix=0
4. Court dismisses challenge to SFC’s investigative powers
On 18 February 2020, the Court of First Instance has dismissed judicial review applications against the SFC in connection with a search operation it conducted for ongoing investigations into suspected breaches of the Securities and Futures Ordinance.
For more details, please refer to:
https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=20PR17
For the Judgement Statement, please refer to:
https://legalref.judiciary.hk/lrs/common/search/search_result_detail_frame.jsp?DIS=126907&QS=%2B&TP=JU
The article is for general information purpose only and is not intended to constitute legal or other professional advice.
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