SFC fines Hong Kong broker

Jul 29, 2013

The SFC fines A One Investment Company HK$1.2 million, citing internal control failures. The regulator is also seeking to wind up a HK-listed firm under section 212 for the first time.

Hong Kong's Securities and Futures Commission (SFC) has fined A One Investment Company HK$1.2 million ($155,000) for internal control failures relating to unauthorised sales of client securities, as well as unauthorised transfers of more than HK$7 million in client funds to third-party accounts.

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