SFC Reprimands and Fines HK$2 million HK-based FXCM Asia for Breaches and Control Failings
The Securities and Futures Commission (SFC) has reprimanded and fined FXCM Asia, (now Rakuten Securities Hong Kong) HK$2 million for regulatory breaches and internal control failings relating to under-segregation of client money.
” SFC fines HK-based FXCM Asia HK$2 million “
The amount of client monies that were under-segregated ranged from HK$2.9 million to HK$11.6 million at the end of each month between January 2013 and December 2014 and was as high as HK$72 million in January 2015.
The business of HK FXCM was acquired by Rakuten Securities, Inc. in September 2015. HK FXCM changed its company name to Rakuten Securities Hong Kong Limited in April 2016 and is under new ownership and management.
Caproasia.com | The leading financial website for financial professionals, professional investors and HNW investors. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Quicklinks: Caproasia Access | TFC | Caproasia | Jobs