Hong Kong’s SFC Committee issued a notice of restriction on Bloomyears Limited due to doubts about its reliability, integrity and ability to continue its regulated activity, honestly and fairly and therefore its ability and ability to remain licensed.
Bloomyears is a company that has been licensed under the SFO for the transfer of type 1 regulation (deals with titles).
The restriction announcement prohibits Bloomyears, without prior written consent from SFC, by (I) Continuing any business, either directly or through agents, who are the regulated activity for which it is licensed under SFO. and (ii) The disposal or treatment of any property owned or owns or holds on behalf of its customers or assisted, consulted or supplies another person to dispose or deal with any such property.
The SFC considers that the issue of restriction notice is desirable in the interest of the investment public or the public interest.