The Securities and Futures Commission (SFC) is seeking disqualification orders from the Court of First Instance against four former directors of Century Energy International Holdings Limited, formerly known as China Oil Gangran Energy Group Holdings Limited (China Oil Gangran Energy), in legal proceedings under section 214 of the Securities and Futures Ordinance (SFO) (Note 1). The four individuals named in the SFC’s proceedings are: Mr Gregory Ho Chun Kit, former executive d

Georgian authorities are currently investigating more than $624 million and €35 million which were laundered through an elaborate criminal scheme that spanned at least two years. According to the Prosecutor’s office, the discovery which counts as one of the largest cases of financial crime in the country’s history, involved a network that operated between 2022 and 2024, disguising illicit cash flows through a licensed currency exchange point.  It said that foreign currency wa

Hong Kong Customs mounted an operation codenamed "Glitters" between August 26 and September 15 and successfully cracked down on a local money laundering syndicate and arrested four members of the syndicate who were suspected of making use of multiple company bank accounts to launder crime proceeds amounting to $2.6 billion. Customs officers targeted a money laundering syndicate early this year and initiated a financial investigation. It was revealed that the syndicate had rec

The Securities and Futures Commission (SFC) is seeking disqualification orders from the Court of First Instance against four former directors of Century Energy International Holdings Limited, formerly known as China Oil Gangran Energy Group Holdings Limited (China Oil Gangran Energy), in legal proceedings under section 214 of the Securities and Futures Ordinance (SFO) (Note 1). The four individuals named in the SFC’s proceedings are: Mr Gregory Ho Chun Kit, former executive d

The Securities and Futures Commission (SFC) and the Securities and Commodities Authority (SCA) of the United Arab Emirates (UAE) have concluded a Memorandum of Understanding (MoU) to expand cross-border market access for public funds under a Mutual Recognition of Funds (MRF) arrangement, marking a new milestone in advancing Hong Kong-UAE market connectivity.   In the presence of The Honourable Paul Chan, Financial Secretary of the HKSAR Government, His Excellency (H.E.) Moha

The Securities and Futures Commission (SFC) has banned Mr Richard Charles Heyes, a former responsible officer (RO), Manager-In-Charge (MIC) of Key Business Line, board member, and Head of Pan-Asia Equities of Citigroup Global Markets Asia Limited (CGMAL), from re-entering the industry for five years from 15 September 2025 to 14 September 2030 (Note 1). The disciplinary action follows the SFC’s earlier sanctions against CGMAL for serious regulatory breaches and internal contro

The Securities and Futures Commission (SFC) has applied for an order from the Court of First Instance to freeze assets intended for compensation to affected investors in an alleged market manipulation case (Application). This action is part of the SFC’s legal proceedings against the former chairman and non-executive director of Ding Yi Feng Holdings Group International Limited, 28 other suspects and a corporate entity for alleged manipulation of the shares of Smartac Internat

Hong Kong Customs yesterday (September 10) detected a case involving a local company that conducted transactions of silver coins valued at over HK$120,000, without registration under the Dealers in Precious Metals and Stones Regulatory Regime. A director of the company was arrested. The investigation is ongoing. The arrested person has been released on bail. According to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615), the Regime came into effec