Hong Kong’s Securities and Exchange Commission (SFC) has banned Ms. Zhu Hong, an important shareholder, director and former director of Kylin International (HK) Co.
The regulator also imposed a fine of $ 400,000 $ 400,000.
Sanctions come from Zhu’s failures in managing various private capital.
Since August 2018 and July 2021, Kylin was the investment manager and/or the sub-architects of a fund incorporated into Cayman. During the substantive time, Zhu was responsible for, inter alia, by approving lending agreements on behalf of sub-architects and the implementation of internal control procedures to prevent money laundering and terrorism funding.
SFC’s research revealed that Zhu failed to fulfill its duties as Kylin’s director and microelectric for AML/CTF in managing these funds.
During the ratification decision, the SFC took into account the acceptance of the responsibility by Zhu, its regret, and its otherwise purely disciplinary record.