繁

SFC issues restriction notices to Money Concepts (Asia) Holdings Limited and Money Concepts Asset Management Limited

Issue date: 2025-02-18 17:15:00

The Securities and Futures Commission (SFC) has issued restriction notices to Money Concepts (Asia) Holdings Limited (MCAH) and Money Concepts Asset Management Limited (MCAM) because of doubts over their honesty, reliability, integrity and ability to carry on regulated activities competently, honestly and fairly, and hence, their fitness and properness to remain licensed (Notes 1 and 2).

The restriction notices prohibit them, without prior written consent from the SFC, from carrying on any business, whether directly or through agents, which constitutes regulated activities for which they are licensed under the Securities and Futures Ordinance (SFO) until further notice.

The SFC considers that the issue of the restriction notices is desirable in the interest of the investing public or in the public interest.

End

Notes:

1. The restriction notices are issued pursuant to section 204 of the SFO. MCAH is a corporation licensed under the SFO to carry on Type 1 (dealing in securities), Type 4 (advising on securities) and Type 9 (asset management) regulated activities. There are licensing conditions imposed on MCAH’s Type 1 and Type 9 regulated activities. MCAM is a corporation licensed under the SFO to carry on Type 4 and Type 9 regulated activities. There are licensing conditions imposed on MCAM’s Type 9 regulated activity.
2. MCAH is the holding company of MCAM.

News captured as of:2025-02-18 17:15:00

Source: SFC