The Securities and Futures Commission (SFC) has obtained an order from the Court of First Instance requiring Mr Andrew Liu, a former non-executive director of Arta TechFin Corporation Limited (Arta TechFin) (known as Freeman Financial Corporation Limited at the material time), and Mr Quincy Hui Kwong Hei, former managing director of Arta TechFin, to compensate the company $57.5 million over the financial loss they caused from its acquisition and disposal of a stake in Liu’s H

The Securities and Futures Commission (SFC) has reprimanded and fined Kylin International (HK) Co., Limited (Kylin) $9 million for multiple failures in managing private funds over a period of three years (Notes 1 and 2). The SFC found that while acting as the investment manager or consultant for six sub-funds of a Cayman-incorporated fund between August 2018 and July 2021, Kylin failed to fulfil its regulatory obligations in five key areas.  First, Kylin failed to manage and

The Securities and Futures Commission (SFC) today convened the third meeting of the Digital Asset Consultative Panel (DACP), bringing together SFC-licensed virtual asset trading platforms (VATPs) to discuss forthcoming regulatory developments for digital assets in Hong Kong. At the meeting, participants discussed initiatives aimed at strengthening the digital asset ecosystem, including regulatory measures to enhance liquidity on licensed VATPs and to expand the range of produ

This circular sets out the Securities and Futures Commission’s ( SFC ) regulatory approach and expected standards for SFC-licensed virtual asset trading platform operators ( Platform Operators ) to allow an affiliated company to engage in market making activities on their virtual asset trading platforms ( VATPs ). Background Liquidity on Hong Kong’s VATPs remains subdued at the current stage of digital asset market development. Under Pillar A (Access) of its ASPIRe roadmap,

On January 28, 2026, the Divisions of Corporation Finance, Investment Management, and Trading and Markets of the U.S. Securities and Exchange Commission (the “SEC”) issued a joint staff statement on tokenized securities (the “Statement”). The staff defines tokenized securities as traditional securities issued or represented as crypto assets on a blockchain and reiterated that existing U.S. federal securities laws apply regardless of whether a security is recorded traditional

Saxo Bank faces a DKK 313,000,000 (49.7 million) administrative fine from Denmark’s financial watchdog after supervisors flagged anti-money laundering weaknesses in its institutional operations. The Danish Financial Supervisory Authority issued the fine after finding that Saxo Bank breached its regulations between 2021 and 2023. “The administrative fine is based on the company's failure to comply with the requirements for obtaining information regarding the purpose and intend

The Tribunal agreed with the FCA that significant fines should be imposed, deciding that fines of £4m, £352,000 and £14,200 were appropriate for Rangecourt SA, Mr Rowland and Mr Bolelyy respectively. The Tribunal also upheld the FCA’s decision to ban Mr Rowland and Mr Bolelyy from working in financial services. Banque Havilland created a plan (initially titled ‘Setting fire to the neighbour’s house fund’) to harm the Qatari Riyal through manipulative trading strategies. The a

AUSTRAC has released its anti-money laundering program starter kits (kits), designed specifically to help small businesses in newly regulated sectors to meet their compliance obligations and manage ML/TF risks, while also reducing the time and cost of compliance.  From 1 July, businesses providing certain  designated services  commonly provided by lawyers, accountants, real estate agents, conveyancers and jewellers will have obligations under the AML/CTF Act.  The kits set ou