Hong Kong, Asia's leading financial centre
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more



This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $3 billion.










Hong Kong SFC Fines Guosen Securities $360,000 for Incomplete & Incorrect Statements to 930 Clients, Used Expired Agreements of 1,009 Clients for Pledging of Collateral 

22nd December 2022 | Hong Kong

Hong Kong Securities & Futures Commission (SFC) has fined Guosen Securities $360,000 (HKD 2.8 million) for providing incomplete & incorrect statements to 930 clients, and using expired agreements of 1,009 clients for pledging of collateral.  Hong Kong SFC: “The SFC’s investigation found that between 1 January 2021 and 7 March 2021, Guosen relied on expired standing authority of 1,009 clients to obtain financial accommodation by re-pledging their securities collateral with a bank as collateral.  The SFC also found that from May 2020 to November 2020, Guosen had provided monthly statements with incomplete and incorrect information to 930 clients.”  Guosen Securities had self-reported the incidents to Hong Kong Securities & Futures Commission (SFC).  See Hong Kong SFC announcement below. 

“ Hong Kong SFC Fines Guosen Securities $360,000 for Incomplete & Incorrect Statements to 930 Clients, Used Expired Agreements of 1,009 Clients for Pledging of Collateral “

 



- Article continues below -



Sign Up
Basic Member: $5 Monthly | $60 Yearly
Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680)


The 2024 Investment Day | 5/3 HK & 12/3 SG
Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 5th March 2024 in Hong Kong, 12th March 2024 in Singapore.
Visit | Register here


The 2023 Family Office Summit | 25/10 HK & 8/11 SG
Join 100+ single family offices & family office professionals in Hong Kong & Singapore
Links: 2023 Family Office Summit | Register here





Hong Kong SFC Announcement

Hong Kong, Asia’s leading financial centre

SFC reprimands and fines Guosen Securities (HK) Brokerage Company, Limited $2.8 million over regulatory breaches

21st Dec 2022 – The Securities and Futures Commission (SFC) has reprimanded and fined Guosen Securities (HK) Brokerage Company, Limited (Guosen) $2.8 million for regulatory breaches in relation to the handling of client assets and the provision of client account statements (Note 1).

The SFC’s investigation found that between 1 January 2021 and 7 March 2021, Guosen relied on expired standing authority of 1,009 clients to obtain financial accommodation by repledging their securities collateral with a bank as collateral.

The SFC also found that from May 2020 to November 2020, Guosen had provided monthly statements with incomplete and incorrect information to 930 clients.

Guosen’s failures constitute breaches of the Securities and Futures (Client Securities) Rules (CSR), the Securities and Futures (Contract Notes, Statement of Account and Receipts) Rules (CNR) and the Code of Conduct (Notes 2 & 3).

In deciding the disciplinary sanction, the SFC has taken into account all relevant circumstances, including:

  • Guosen’s remedial actions and self-reports to the SFC regarding its breaches of the CSR and the CNR;
  • the abovementioned incidents appear to be isolated;
  • there is no evidence of client loss as a result of Guosen’s regulatory breaches; and
  • Guosen’s cooperation in resolving the SFC’s concerns and accepting the SFC’s findings and disciplinary action.

 

Guosen is licensed under the Securities and Futures Ordinance to carry on business in Type 1 (dealing in securities), Type 2 (dealing in futures contracts), Type 4 (advising on securities) and Type 5 (advising on futures contracts) regulated activities.

Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission.




Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.

Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more.  List hard-to-find financial & private wealth services.

Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]

Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?



Quick Links


2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM


For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below

For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register


    InvestorProfessionalFamily OfficeExecutive


    SubscriptionMembershipEvents


    Professional InvestorPrivate WealthFamily OfficePrivate BankingWealth ManagementInvestmentsAlternativesPrivate MarketsCapital MarketsESG & SICEO & EntrepreneursTax, Legal & RisksHNW & UHNWs Insights










    Web links may be disabled on mobile for security.
    Please click on desktop.










    Caproasia Users

    • Manage $20 million to $3 billion of assets
    • Invest $3 million to $300 million
    • Advise institutions, billionaires, UHNWs & HNWs

    Caproasia Platforms | 10,000 Investors & Advisors

    Monthly Roundtable & Networking

    Family Office Programs

    The 2023 Investment Day

    • 28th March 2023 - Hong Kong
    • 4th April 2023 - Singapore
    • April 2023 - Virtual
    • 6th June 2023 - Hong Kong
    • 13th June 2023 - Singapore
    • Sept 2023 - Hong Kong
    • Oct 2023 - Singapore
    • Oct 2023 - Hong Kong
    • Visit: The Investment Day | Register: Click here

    Caproasia Summits

    Contact Us

    For Enquiries, Membership
    [email protected], [email protected]

    For Listing, Subscription
    [email protected], [email protected]

    For Press Release, send to:
    [email protected]

    For Events & Webinars
    [email protected]

    For Media Kit, Advertising, Sponsorships, Partnerships
    [email protected]

    For Research, Data, Surveys, Reports
    [email protected]

    For General Enquiries
    [email protected]





    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014




    Previous articleHong Kong Exchange Opens New York Office Headed by Roger McAvoy as Head of Business Development North America, United States Represents 10% of HK Equities Trading Turnover & International Investors Represents 41%
    Next articleHong Kong & Mainland China Stock Connect Expands to Include Foreign Companies Primary Listed in Hong Kong & Hang Seng Index Component, Expected to Include Stocks that Account for More than 80% of Equity Trading 
    Caproasia.com covering capital markets, investments and private wealth in Asia. Our users manage, advise & invest $25 trillion assets in Asia