SFC issues Restriction Notice to HF Asset Management Ltd
We note that the firms currently has only 2 licensed Representatives and no Responsible Officers.
SFC issues Restriction Notice to HF Asset Management Limited
Issue date: 2021-10-07 16:30:10
The Securities and Futures Commission (SFC) has issued a restriction notice to HF Asset Management Limited (HFAM) because of doubts over HFAM’s reliability, integrity and ability to carry on regulated activities competently, honestly and fairly, and hence, its fitness and properness to remain licensed (Note 1).
The restriction notice prohibits HFAM, without prior written consent from the SFC, from 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) until further notice.
The SFC considers that the issue of the restriction notice is desirable in the interest of the investing public or in the public interest.
The SFC’s investigation is ongoing.
- The restriction notice is issued pursuant to section 204 of the SFO. HFAM is a corporation licensed under the SFO to carry on Type 9 (asset management) regulated activity. There are licensing conditions imposed on HFAM’s licence, amongst others, that it shall not hold client assets.