The Hong Kong Securities and Futures Commission has issued restriction notices to Futu Securities International (Hong Kong) Limited and Soochow Securities International Brokerage Limited, barring them from dealing with assets in accounts ultimately owned by a board member of a listed corporation suspected of misconduct and breach of duties. Without the SFC’s prior written consent, the two brokers are prohibited from disposing of or dealing with the relevant assets, or assisting, counselling or procuring others to do so, up to the amounts specified in the notices. They must also immediately notify the SFC if they receive any instructions relating to the prohibited dealings. The notices were issued under sections 204 and 205 of the Securities and Futures Ordinance and are intended to preserve assets to ensure funds would be available to meet any potential court order in legal proceedings that the SFC may bring.
Hong Kong Securities & Futures Commission 2025-11-28
Hong Kong Securities and Futures Commission issues restriction notices to Futu Securities and Soochow Securities to freeze client accounts linked to suspected corporate misconduct
The Hong Kong Securities and Futures Commission has issued restriction notices to Futu Securities International (Hong Kong) Limited and Soochow Securities International Brokerage Limited, prohibiting them from dealing with assets linked to a board member of a listed corporation suspected of misconduct. The brokers cannot manage these assets without prior SFC consent and must report related instructions. The notices aim to preserve assets for potential legal proceedings under sections 204 and 205 of the Securities and Futures Ordinance.