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Hong Kong’s Securities and Futures Commission (SFC) announced on Monday that it has imposed a warning against Unicorn Securities Company Limited and its former officer, Chan Hoi Shou, in connection with asset and fund management irregularities.
Unicorn Securities, licensed under the Securities and Futures Ordinance (SFO), provides services related to dealing in securities for retail customers. The SFC has announced a $3 million fine to reprimand the entity and an additional $200,000 against Mr Chan. His SFO license was suspended for 15 months (from March 12, 2016 to June 11, 2017).
According to the local regulator’s findings, for a period of ... (read more)