SFC issues restriction notice to Hong Kong Wan Kiu Investment Co Ltd
OK now let's not make any childish jokes about the name. We'll have to wait for the SFC's investigation to come to a climax and hope that there is no manipulation involved.
Further information
SFC issues restriction notice to Hong Kong Wan Kiu Investment Company Limited
Issue date: 2019-11-05 16:15:57
The Securities and Futures Commission (SFC) has issued a restriction notice to Hong Kong Wan Kiu Investment Company Limited (HKWK) prohibiting the firm, without prior written consent from the SFC, from (i) carrying on any business, whether directly or through agents, which constitutes regulated activities for which it is licensed under the Securities and Futures Ordinance (SFO); and (ii) disposing of, dealing with, assisting, counselling or procuring another person to dispose of or deal with any property held by it or held on behalf of its clients until further notice (Note 1).
The SFC considers that the issue of the restriction notice, which preserves the client assets held by HKWK, is desirable in the interest of the investing public or in the public interest.
The SFC’s investigation is ongoing.
End
Note:
- The Restriction Notice is issued pursuant to sections 204 and 205 of the SFO. HKWK is a corporation licensed under the SFO to carry on Type 1 (dealing in securities) regulated activity.
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