Hong Kong’s Securities and Exchange Commission (SFC) issued a GA (Int’l) Capital Management Limited (GCML) restriction notice due to concerns about its reliability, integrity and ability to continue its adjustable activities satisfactorily, honestly and fair,
The restriction announcement prohibits GCML, without prior written consent by SFC, by:
- Continuing any business, either directly or through agents, who constitute regulated activities for which SFC is licensed. and
- disposal or treatment of any relevant property in any way; or by assisting, counseling or supplying another person to provide or deal with any relevant property in any way, except for the prior written notice to SFC and the previous written consent of the SFC, paying for operations.
The SFC considers that the issue of restriction notice is desirable in the interest of the investment public or the public interest.
The regulator also searched, among other things, the facilities occupied by the GCML officer in a business today.