sfc
Deutsche Bank Clients Were Being Secretly Overcharged for Years
- Hong Kong's securities regulator fined the banking giant $24 million after discovering $39 million in client overcharges over an eight-year period.
- The lender reported the violations itself and has since refunded affected clients and strengthened internal controls.
Thursday, 28/08/2025 | 08:58 GMT by
Damian Chmiel
These Names May Soon Be Reserved for Regulated Firms in Hong Kong
- The regulator has proposed restricting the use of names such as "exchange", "trading platform", and "clearing facilities".
- It aims to reduce public confusion and protect investors from mistaking unlicensed firms for legitimate financial institutions.
Thursday, 12/06/2025 | 16:49 GMT by
Jared Kirui
Hong Kong Regulator Bans Broker Text Links After Phishing Scams Hit Traders
- The phishing messages reportedly contain links to fake websites that closely resemble legitimate broker portals.
- Victims were tricked into entering their login credentials on counterfeit websites, enabling scammers to access accounts and make unauthorized transactions.
Wednesday, 21/05/2025 | 12:48 GMT by
Jared Kirui
This “Stock Sniper” Missed His Target and Hit a 16-Month Suspension Instead
- SFC has suspended Franky Wong after he was convicted of providing unlicensed investment advice through a subscription-based Telegram group.
- Despite being licensed through his employer, Wong illegally operated the advisory service in his personal capacity from 2018 to 2019.
Thursday, 20/03/2025 | 08:46 GMT by
Damian Chmiel
SFC Approves Four VATPs and Outlines Licensing Conditions After Inspections
- VATPs must complete rectification actions and conduct vulnerability assessments to operate.
- A new circular provides guidance on the VATP licensing process and second-phase assessments.
Wednesday, 18/12/2024 | 11:58 GMT by
Tareq Sikder
Interactive Brokers Caught in Hong Kong's HK$91M Trading Freeze
- Hong Kong's SFC freezes assets across four brokers, including Interactive Brokers, due to suspected market manipulation and account hacking.
- According to the regulator, the unauthorized activities occurred between Oct 24 and Nov 6.
Thursday, 21/11/2024 | 08:47 GMT by
Damian Chmiel
11 Crypto Platforms Under Review as Hong Kong Faces Criticism on Strict Regulations
- The SFC plans to approve more cryptocurrency exchanges in Hong Kong by the end of 2024.
- Despite efforts to attract major players, OKX and Bybit withdrew their applications.
Tuesday, 08/10/2024 | 08:40 GMT by
Tareq Sikder
Hong Kong's Crypto Licensing Faces Hurdles as 11 Exchanges under Review
- The SFC found issues in several platforms, including cybersecurity and reliance on executives for asset custody.
- Full licenses are expected by late 2024, but non-compliant firms may face rejection.
Thursday, 22/08/2024 | 09:46 GMT by
Tareq Sikder
Hong Kong Watchdog Fined Market Wrongdoers $49.9 Million in 2023/2024
- The agency is using new surveillance tools to crack down on financial crimes.
- It is also celebrating the 35th anniversary of its founding in response to a local stock market crisis.
Wednesday, 19/06/2024 | 07:48 GMT by
Damian Chmiel
SFC Issues New Crypto Regulations: 2 Platforms Licensed, 17 Await Approval
- As of June 1, OSL Digital Securities and Hash Blockchain are licensed crypto trading platforms.
- Several crypto exchanges, including OKX and Gate.hk, are ceasing operations in Hong Kong.
Monday, 03/06/2024 | 08:44 GMT by
Tareq Sikder
Strategy Straight from the Casino Promised 40% Monthly Profits: Regulator Warns
- Hong Kong’s financial regulator added PropCap to its alert list and issued a warning.
- The company offered high monthly returns on investments thanks to Martingale's strategy.
Monday, 08/04/2024 | 09:43 GMT by
Damian Chmiel
Hong Kong Warns against Unlicensed Crypto Exchange Sure X
- Sure X operates under the name "Sure Bit International Pte Ltd" or "Sure Bit International Ltd."
- The SFC warned that despite appearing inaccessible, investors might still find ways to access Sure X's websites and trading platform.
Friday, 05/04/2024 | 15:49 GMT by
Jared Kirui
SFC Alerts: MEXC Tiptoes on Thin Ice with Unlicensed Trading Platform
- MEXC has neither obtained a license from the SFC nor started the process to operate a VATP in Hong Kong.
- Earlier, the regulator issued a warning to investors regarding Bybit and its offerings.
Friday, 15/03/2024 | 10:49 GMT by
Tareq Sikder
Bybit under Scrutiny: Hong Kong's Regulator Warns Crypto Investors
- The products offered by the crypto exchange that have raised concerns include futures contracts and options.
- The SFC has vowed to take enforcement action against unlicensed crypto activities to protect investors.
Thursday, 14/03/2024 | 13:19 GMT by
Jared Kirui