A former compliance officer for Deutsche Securities alleged in an interview with the FBI seven years ago that she was marginalized, then fired, after raising concerns over transactions involving the now-late financier and convicted sex offender Jeffrey Epstein more than a decade ago. According to a 7-page affidavit unsealed Friday along with millions of pages of other records from the U.S. case against Epstein, the former employee, Tammy Hill-McFadden, told federal investigat

The Securities and Futures Commission (SFC) has reached a settlement agreement (Agreement) with Sino Wealth International Limited (Sino Wealth) and Clear Prosper Global Limited (Clear Prosper) in relation to what the Takeovers Executive (Executive) (Note 1) considers to be breaches of The Codes on Takeovers and Mergers and Share Buy-backs (Codes) by their parent company, Chow Tai Fook Nominee Limited (CTFN), and its concert parties (collectively, Relevant Concert Group), in r

The Eastern Magistrates’ Courts today sentenced Mr Ng Ka Hei to 220 hours of community service following his conviction of false trading in the shares of six Hong Kong-listed companies in a criminal prosecution brought by the Securities and Futures Commission (SFC) (Notes 1 to 3). The Court also ordered Ng to pay a fine of $117,715, a sum equivalent to the total profit he made from his false trading activities, and to pay the SFC’s full investigation costs of $199,669. Betwee

The strictest ban comes in the crypto sector. On February 6, eight authorities, including the People's Bank of China and the China Securities Regulatory Commission (CSRC), jointly issued the Notice on Further Preventing and Resolving the Risks Related to Virtual Currencies (hereinafter referred to as the "Notice"). The Notice once again makes clear that business activities related to virtual currencies are illegal financial activities and are strictly prohibited and resolutel

The Eastern Magistrates’ Courts today sentenced Mr Ng Ka Hei to 220 hours of community service following his conviction of false trading in the shares of six Hong Kong-listed companies in a criminal prosecution brought by the Securities and Futures Commission (SFC) (Notes 1 to 3). The Court also ordered Ng to pay a fine of $117,715, a sum equivalent to the total profit he made from his false trading activities, and to pay the SFC’s full investigation costs of $199,669. Betwee

The Securities and Futures Commission (SFC) today issued new guidance to extend virtual asset (VA) services to margin financing for licensed brokers providing VA dealing services (VA brokers), and to set out a high-level framework to guide virtual asset trading platforms (VATPs) in developing proposals for VA‑related leveraged products intended for professional investors.       As part of its latest measures to expand product and service diversity under the ASPIRe Roadmap (N

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