SFC revokes licence of Mega Capital (Asia) Co Ltd, fines it HK$42m for Hontex mess

Mega Capital denies all allegations of wrongdoing. The timing of this announcement, made at 4pm on a Sunday afternoon, may be intended to buttress the case for greater sponsor liability in a consultation paper expected soon. Some of the allegations though, appear to relate to accounting data, the verification of which should have been the purview of reporting accountants KPMG. The SFC does not regulate accountants.

Organisations

Hontex International Holdings Company Limited 洪良國際控股有限公司
KPMG (HK)
MEGA CAPITAL (ASIA) COMPANY LIMITED 兆豐資本(亞洲)有限公司

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Sponsor regulation

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