The Hong Kong Securities and Futures Commission reprimanded and fined Zheng Da International Financial Holding Limited HKD 7 million for anti-money laundering and counter-financing of terrorism and other regulatory failures between Dec. 1, 2021, and Sept. 30, 2023. It also suspended responsible officer Zhong Hao’s license for seven months, from Sept. 28, 2026, to April 27, 2027, after attributing the firm’s failures to his oversight deficiencies as a responsible officer and senior manager. Zheng Da conducted no due diligence or testing on customer supplied systems used by 160 clients to place futures orders, leaving it unable to manage associated money laundering, unauthorized access and other misconduct risks. The firm also lacked records demonstrating adequate inquiries into deposits in eight accounts that were inconsistent with clients’ declared financial profiles. Its ongoing monitoring failed to identify suspicious trading, including 176 instances in which the same client placed buy and sell orders for the same futures contract within the same second and at the same price. Zheng Da continued allowing these systems despite multiple SFC enforcement actions involving similar breaches and disabled all existing customer supplied systems only in August 2025.

Original source