The Securities and Futures Commission (SFC) has issued restriction notices to Money Concepts (Asia) Holdings Limited (MCAH) and Money Concepts Asset Management Limited (MCAM) due to concerns about their honesty, integrity, and competence in conducting regulated activities. These notices prohibit both companies from engaging in any business related to their licensed activities under the Securities and Futures Ordinance (SFO) without prior written consent from the SFC. This action is deemed necessary to protect the investing public and uphold public interest. MCAH is licensed for dealing in securities, advising on securities, and asset management, while MCAM is licensed for advising on securities and asset management.
Resources: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=25PR19