The Hong Kong Securities and Futures Commission (SFC) reported that court-appointed administrators distributed approximately HKD 19 million worth of assets in July 2025 as compensation to affected clients of Hong Kong Wan Kiu Investment Company Limited (HKWK), following approval by the Court of First Instance in January 2025. The distribution implements final relief granted in November 2022 in section 213 proceedings under the Securities and Futures Ordinance, including a restoration order and the appointment of administrators to recover and administer HKWK’s assets. The court action followed an SFC investigation that found HKWK and its sole director and shareholder, Connie Sham Khi Rose, had sold client securities without authorisation, misappropriated the proceeds, and falsified client statements to conceal the transactions. The matter was referred to the Police and led to criminal proceedings, which have concluded, with Sham pleading guilty to misappropriating around HKD 58 million of client assets between 2011 and 2019 and receiving a sentence of 160 hours of community service on 3 July 2025; the Court took into account her remorse and that she had already compensated affected clients through resources of her own, her family and friends. HKWK, which was licensed for Type 1 (dealing in securities) regulated activity, had its licence revoked in March 2024, following earlier SFC restrictions in November 2019 and an interim injunction to freeze assets obtained in February 2020.

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