SFC reaches agreement with PricewaterhouseCoopers for shareholder compensation of HK$1 billion regarding false financial statements of China Evergrande Group for 2019 and 2020

On 23 April 2026,The Securities and Futures Commission (SFC) reached a landmark HK$1 billion settlement with PricewaterhouseCoopers Hong Kong (PwC HK) following an investigation into the audit failures of China Evergrande Group. The SFC determined that Evergrande’s FY2019 and FY2020 financial statements were materially false, primarily due to the systemic [...]

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Exchange’s Disciplinary Action against Cloud Factory Technology Holdings Limited (Stock Code: 2512) and Four Directors

On 14 April 2026,The Stock Exchange of Hong Kong Limited publicly censured Cloud Factory Technology Holdings Limited (Stock Code: 2512) and criticized 4 of its former executive directors and CEO.An investigation has identified material discrepancies between a company’s prospectus and its actual financial position at the time of listing. Specifically, [...]

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SFC sanctions Impression Investment Limited and its former responsible officer over staff trading activities

On 9 April 2026, The Securities and Futures Commission (SFC) reprimanded and fined Impression Investment Limited (Impression) $2 million for significant internal control deficiencies and supervisory failures regarding staff personal trading. Furthermore, the SFC has imposed an eight-month industry prohibition on former Responsible Officer (RO) Liu Shan for his central [...]

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SFC bans Cheng Lai Ho for seven months

The Securities and Futures Commission (SFC) has prohibited Mr Cheng Lai Ho, a former relevant individual of Bank of Communications (BOCOM), from re-entering the financial industry for seven months. The disciplinary action follows an SFC investigation which found that between April 2017 and April 2022, Cheng failed to disclose multiple [...]

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SFC suspends Tang Wai Choi for seven months

The Securities and Futures Commission (SFC) has suspended the licence of Mr Tang Wai Choi, a former licensed representative of Shanxi Securities International Limited (SSIL), for seven months. The disciplinary action follows an SFC investigation which found that between July and December 2019, Tang improperly accessed a client’s securities account [...]

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SFC seeks court orders to disqualify former directors of China Longevity Group Company Limited

The Securities and Futures Commission (SFC) is seeking disqualification orders against three former executive directors of China Longevity Group Company Limited for their roles in financial misstatements and disclosure failures. The SFC’s investigation revealed the company materially overstated its cash and cash equivalents by approximately RMB198.9 million as of 31 [...]

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SFC seeks court orders to disqualify former directors of Century Energy International Holdings Limited

The Securities and Futures Commission (SFC) is pursuing disqualification orders against four former directors of Century Energy International Holdings Limited (formerly China Oil Gangran Energy Group Holdings Limited) following an investigation into the company’s significant financial losses due to a loss of control over four major operating subsidiaries. The former [...]

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SFC bans Citigroup Global Markets Asia Limited’s former responsible officer Richard Charles Heyes for five years

The Securities and Futures Commission (SFC) has banned Mr. Richard Charles Heyes, a former responsible officer and senior executive at Citigroup Global Markets Asia Limited (CGMAL), from re-entering the financial industry for five years due to his failure to prevent serious regulatory breaches and internal control failures related to the [...]

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Exchange’s Disciplinary Action against a Director of LET Group Holdings Limited (Delisted, Previous Stock Code: 1383) and Summit Ascent Holdings Limited (Delisted, Previous Stock Code: 102)

The Stock Exchange of Hong Kong Limited has imposed a Director Unsuitability Statement and a Censure against Mr. Lo Kai Bong, the executive director and chairman of LET Group Holdings Limited and Summit Ascent Holdings Limited. The Exchange has determined that Mr. Lo is unsuitable to serve as a director [...]

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SFC reprimands and fines Instinet Pacific Limited $8 million for failure to report cross trades to the Stock Exchange

The Securities and Futures Commission (SFC) has publicly reprimanded Instinet Pacific Limited and imposed an HK$8 million fine for failing to comply with regulatory requirements regarding the reporting of direct business transactions (cross trades) to The Stock Exchange of Hong Kong Limited (SEHK) between December 2012 and March 2018. Instinet’s [...]

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