Daily News Headlines

  • Daily News Headlines – 12 Aug 2020

    SFC issues restriction notices to two brokers to freeze client accounts linked to suspected market manipulation

    SFC, 11 Aug 2020

    The Securities and Futures Commission (SFC) has issued restriction notices to Gary Cheng Securities Limited (GCSL) and Zhongcai Securities Limited (ZSL), prohibiting them from dealing with or processing certain assets held in five trading accounts, which are related to suspected market manipulation in late April 2020 in the shares of a company listed on the Stock Exchange of Hong Kong Limited

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    Ex-chairman of Hong Kong-listed bad asset manager Huarong pleads guilty to accepting US$257.7 million in bribes

    SCMP, 11 Aug 2020

    Lai Xiaomin was accused of exploiting various professional positions and accepting ill-gotten gains, including money and goods worth 1.79 billion yuan, of which 104 million yuan was eventually not received, between 2008 and 2018, when he headed Hong Kong-listed China Huarong Asset Management and was the director general of the People’s Bank of China’s banking supervision department, Tianjin No. 2 Intermediate People’s Court said on its Weibo account on Tuesday.

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    City pins hopes on ‘centrepiece’ global matchmaking programme for start-ups, as Hong Kong Fintech Week goes online

    SCMP, 11 Aug 2020

    InvestHK, the government department in charge of foreign direct investment, has launched the matchmaking programme to drum up interest in the city’s annual flagship fintech event, which will be held online for the first time because of the coronavirus pandemic. The event, slated for November 2 to November 6, is in its fifth year.

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