HK Court Convicts 2 Dealers and 1 Asset Manager for Unlicensed Services

[kreslik.news]

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has announced the conviction of two dealers and one investment manager in the Eastern Magistrates’ Court, for providing their services without licenses.

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Detailing the cases, the SFC said that two former dealers of Vermont Securities Company Limited (Vermont) directly handled trading order instructions from clients and confirmed their execution though they were not licensed to do so.

One dealer handled trades without license between May 2011 and April 2012 ... (read more)