Regulator blocks 23 HK brokerages from share dealings

Business | 25 Jun 2019 5:06 pm

The Securities and Futures Commission has prohibited 23 brokers from dealing with or processing certain assets held in their client accounts.

Of these,  14 are related to suspected market manipulation in the shares of Smartac Group China between October 2018 and March 2019.

The brokers are: Changjiang Securities Brokerage (HK), Central China International Securities, China Galaxy International Securities (Hong Kong), Fulbright Securities, GF Securities (Hong Kong) Brokerage, Guosen Securities (HK) Brokerage, Guotai Junan Securities (Hong Kong), Guoyuan Securities Brokerage (Hong Kong), HGNH International Securities, Interactive Brokers Hong Kong, KGI Asia , Yue Xiu Securities, Yunfeng Securities and Zhongtai International Securities.

The SFC is not investigating these brokers, which have cooperated with the  ongoing investigation.

The restriction notices do not affect their operations or their other clients. The restriction notices prohibit them, without the SFC’s prior written consent, from disposing of or dealing with, assisting, counseling or procuring another person to dispose of or deal with any assets in any way in the client accounts.

The SFC also issued restriction notices to nine brokers, prohibiting them from dealing with or processing certain assets held in their client accounts which are related to suspected market manipulation in the shares of China Ding Yi Feng between 2018 and early 2019.

The brokers are: Central China International Securities, CMB International Securities, HGNH International Securities, Kaisa Securities, Sun Hung Kai Investment Services, Tian Yuan Finance, Victory Securities, Yue Xiu Securities and Zhongtai International Securities.

The SFC is not investigating these brokers, which have cooperated with the SFC’s ongoing investigation. 

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