Hong Kong SFC Issues Restriction Notice to Brokerage Firm Global Securities Group for Client Assets, Prohibited from Trading & Transferring Until Further Notice
7th June 2023 | Hong Kong
The Hong Kong Securities & Futures Commission (SFC) has issued a restriction notice to brokerage firm Global Securities Group for client assets, prohibiting the brokerage firm from trading & transferring the assets until further notice. Hong Kong SFC: “The Securities and Futures Commission (SFC) has issued a restriction notice to Global Group Securities Limited (GGSL) to preserve client assets held by the broker. GGSL is prohibited, without prior written consent from the SFC, from (i) carrying on any business, whether directly or through agents, which constitutes regulated activities for which it is licensed under the SFO; and (ii) disposing of, dealing with, assisting, counselling or procuring another person to dispose of or deal with any property held by it or held on behalf of its clients until further notice. The SFC considers that the issue of the restriction notice is desirable in the interest of the investing public or in the public interest. The SFC’s investigation is ongoing.”
“ Hong Kong SFC Issues Restriction Notice to Brokerage Firm Global Securities Group for Client Assets, Prohibited from Trading & Transferring Until Further Notice “
The restriction notice is issued pursuant to sections 204 and 205 of the Securities and Futures Ordinance (SFO). GGSL is a corporation licensed under the SFO to carry on Type 1 (dealing in securities) and Type 4 (advising on securities) regulated activities. GGSL’s licence to carry on Type 4 regulated activity (advising on securities) is subject to the condition that GGSL shall only provide services to professional investors as defined in the SFO and its subsidiary legislation.
Sign Up / Register
Caproasia Users
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2024 Investment Day
- March 2024 - Hong Kong
- March 2024 - Singapore
- July 2024 - Hong Kong
- July 2024 - Singapore
- Sept 2024 - Hong Kong
- Sept 2024 - Singapore
- Oct 2024 - Hong Kong
- Nov 2024 - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
