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Hong Kong’s Securities and Futures Commission (SFC) announced today that it has fined SynerWealth Financial Ltd $2.7 million for internal control failures relating to short selling orders and for not reporting the deficiencies of its trading system to the SFC in a timely manner.
The latest fine comes just a day after the SFC reprimanded and fined another firm, Guotai Junan Securities Ltd (Hong Kong), $1.3 million for failing to comply with its regulatory requirements.
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[size=180][b]Ineffective Internal Control ... (read more)