The Securities and Futures Commission (SFC) has reprimanded and fined Impression Investment Limited (Impression) $2 million for failing to diligently supervise its staff and maintain effective internal controls over staff trading activities (Note 1). The SFC has also prohibited Mr Liu Shan, a former director, responsible officer (RO) and manager-in-charge of Impression, from re-entering the industry for eight months from 2 April 2026 to 1 December 2026 (Notes 2 to 3). The SFC

The Securities and Futures Commission (SFC) has prohibited Mr Lui Pak Tong (also known as Patrick Lui), a former licensed representative of Thunder Capital Limited (Thunder), from re-entering the industry for life.  The SFC also fined Lui $17.43 million, equivalent to the profit he gained from his misconduct (Notes 1 and 2). The SFC’s investigation found that, between September 2017 and June 2020, Lui, in his official capacity as Thunder’s investment analyst, caused a segrega

The Court of First Instance has granted an interim injunction order against four suspected manipulators of the shares of KNT Holdings Limited (KNT) in legal proceedings brought by the Securities and Futures Commission (SFC) under section 213 of the Securities and Futures Ordinance (SFO) (Note 1). Pursuant to the Court order, the four suspects, who allegedly manipulated KNT shares between 28 February 2019 and 15 May 2019, are prohibited from disposing of, dealing with, diminis

The Eastern Magistrates’ Courts today granted an application by the Department of Justice to transfer a securities fraud case brought by the Securities and Futures Commission (SFC) to the District Court for criminal proceedings. This marks the first time in which a criminal prosecution for securities fraud involving illegal short selling under section 300 of the Securities and Futures Ordinance (SFO) will be held in the District Court. The first hearing in the District Court

The Securities and Futures Commission (SFC) has prohibited Mr Kuo Che-jung, a former responsible officer of Yuanta Securities (Hong Kong) Company Limited (Yuanta), from re-entering the industry for four and a half years from 19 March 2026 to 18 September 2030 and fined him $1 million for conducting matched trades in Hang Seng Index options and operating secret accounts (Notes 1 and 2). The disciplinary action follows an SFC investigation which found that, between 2 July 2020

The Securities and Futures Commission (SFC) today released a report on its review of the performance of The Stock Exchange of Hong Kong Limited (SEHK) in regulating listing matters during 2024 (Note 1). During the review, the SFC conducted an in-depth assessment of SEHK’s performance in vetting listed issuers’ internal control reviews and their handling of late auditor resignations (Note 2). The SFC also reviewed the general operations, processes and procedures of SEHK’s Lis

The Securities and Futures Commission (SFC) and the Independent Commission Against Corruption (ICAC) conducted a joint operation codenamed “Fuse” on 10 and 11 March 2026 targeting insider dealing and involving corruption. Senior executives of three licensed corporations, including two securities firms and a hedge fund management firm, were persons of interest in the case (Note 1). During the joint operation, officers of the SFC and the ICAC searched a total of 14 locations, i

The Securities and Futures Commission (SFC) has obtained an order from the Court of First Instance requiring Mr Zhang Wei, a former executive director of Coolpad Group Limited (Coolpad), to pay HK$4 million in compensation to Coolpad for his role in a series of transactions which caused financial loss to the company (Notes 1 to 3). Zhang was also disqualified for a period of five years from being a director, liquidator, receiver or manager of, or being involved in the managem