Hong Kong’s Securities and Futures Commission (SFC), the country’s paramount securities regulator, has issued a warning against three financial firms after it was found to be offering its services to the public without being authorised to do so, according to an SFC statement.
CITIC Tokyo International, Entrada Capital and Jacob L. Callan are the latest companies to come under scrutiny by the watchdog for promoting its trading services without a licence. The named brokers are listing addresses at Hong Kong. However, the SFC said that the unregulated firms are not located in the region although some of them may be using the details of a legitimate company to confuse investors.
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A brief review of the suspicious companies’ websites reveals that they offer investment services on a wide range of financial instruments, ranging from equities, forex, to asset management solutions.
The SFC routinely warns about such entities and scams operating in Hong Kong, one of the Asia’s paramount financial hubs.
The SFC’s comprehensive Alert List features the names of businesses that have come to the attention of the watchdog because they are unlicensed in Hong Kong and are believed to be, or to have been, targeting Hong Kong investors or claim to have an association with Hong Kong.