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SFC: Interactive Securities and Three Other Brokers Ordered to Freeze Accounts Suspected Markets Manipulation

2 hours ago BrokersView

SFC: Interactive Securities and Three Other Brokers Ordered to Freeze Accounts Suspected Markets Manipulation

On Nov. 21, Hong Kong's Securities and Futures Commission (SFC) issued notices to four brokers, including Interactive Securities, prohibiting them from disposing of client assets related to fraud and market manipulation.

 

According to the regulator, between October 24 and November 6, the accounts were hacked, which led to unauthorized online transactions.

 

In order to safeguard the interests of investors and the public interest, the SFC believed it was necessary to issue restriction notices to help with the investigation.

 

Apart from Interactive Securities Hong Kong, the companies that received the notice also include SBI China Capital Financial Services Limited; Monmonkey Group Securities Limited; and Soochow Securities International Brokerage Limited.

 

The regulator required these financial firms to refrain from disposing of or dealing with, assisting, counseling or procuring another person to deal with the assets, amounting to $91 million, in the relevant accounts in any manner without the written consent of the SFC.

 

The investigation is ongoing.

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