SFC issues restriction notice to Bloomyears Limited

The Securities and Futures Commission (SFC) has issued a restriction notice to Bloomyears Limited (Bloomyears) because of doubts over its reliability, integrity and ability to carry on its regulated activity competently, honestly and fairly, and hence, its fitness and properness to remain licensed (Note 1).

The restriction notice prohibits Bloomyears, without prior written consent from the SFC, from (i) carrying on any business, whether directly or through agents, which constitutes the regulated activity for which it is licensed under the SFO; and (ii) disposing of or dealing with any property held by it or held on behalf of its clients, or assisting, counselling or procuring another person to dispose of or deal with any such property. The SFC considers that the issue of the restriction notice is desirable in the interest of the investing public or in the public interest.

The SFC’s investigation is ongoing.

End

Note:

1. The restriction notice is issued pursuant to sections 204 and 205 of the Securities and Futures Ordinance (SFO). Bloomyears is a corporation licensed under the SFO to carry on Type 1 (dealing in securities) regulated activity.