On 24 August 2026, the SFC revoked the licence and responsible‑officer approval of Mr Ernest Chan Tsz‑Kin, former RO of Keptain Securities and Asset Management Limited, and banned him from the industry for 10 years. An SFC investigation found that between June 2016 and March 2018, Chan caused Keptain to window‑dress its liquid capital by including 15 subsequently‑dishonoured cheques (issued by Chan or his connected companies) in 15 financial returns submitted to the SFC, falsely demonstrating compliance with the Financial Resources Rules. Keptain also sustained liquid‑capital deficits of HK$731,000‑HK$3,473,000 across 20 months without notifying the SFC as statutorily required. The SFC concluded the misconduct occurred with Chan’s consent/connivance and undermined his fitness and properness. In imposing sanctions, the SFC weighed the statutory importance of the FRR, the serious, intentional nature of the breaches, Chan’s direct responsibility, and mitigating factors including Keptain having no active clients/regulated business in the relevant period and Chan’s cooperation with the investigation.
Sources: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=26PR128