SFC Issues $1M Fine to CN Capital Over Regulatory Breaches

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SFC Issues $1M Fine to CN Capital Over Regulatory Breaches

Postby kreslik.news » Mon Apr 23, 2018 9:32 pm

The Hong Kong Securities and Futures Commission (SFC) has reprimanded CN Capital Management Limited (CN Capital) and issued a  $1,000,000 fine for not being able to maintain an effective compliance function and satisfactory internal controls concerning employee account dealings.

In addition, the SFC has also reprimanded the company’s responsible officers, George Chan Yee Lee and Stephen Ng Wing Leung and handed them fines of $100,000 each for failure to comply with the employee account dealing requirements under the Fund Manager Code of Conduct.

According to the SFC, the two men breached the core principle that persons engaged in fund ... (read more)

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