Hong Kong SFC Fines Nomura Hong Kong Independent Broker Instinet Pacific $1 Million for Failure to Report $3.3 Million in 8,817 Pairs of Cross Trades Between Clients & Affiliated Company to Stock Exchange of Hong Kong (SEHK)
9th September | Hong Kong
The Hong Kong Securities and Futures Commission (SFC) has fined Nomura Hong Kong independent broker Instinet Pacific $1 million for failure to report $3.3 million in 8,817 pairs of cross trades between clients & affiliated company to the Stock Exchange of Hong Kong (SEHK). Hong Kong SFC (8/9/25): “The Securities and Futures Commission (SFC) has reprimanded and fined Instinet Pacific Limited (Instinet) $8 million for its failure to comply with the reporting requirements of The Stock Exchange of Hong Kong Limited (SEHK) for direct business transactions or cross trades (Note 1). The SFC’s investigation revealed that between December 2012 and March 2018, Instinet had failed to report 8,817 pairs of cross trades involving transactions worth around $25.9 billion between its clients and affiliated company to the SEHK in accordance with the reporting requirements, in breach of the Code of Conduct (Notes 2 and 3). The SFC also found that during the relevant period, Instinet had no internal policy and procedure requiring, governing, or monitoring the reporting of cross trades to the SEHK, and it did not conduct any review on its trade reporting process. In deciding the disciplinary sanction, the SFC has taken into account all relevant circumstances, including the duration of Instinet’s failure, the number of unreported cross trades and the sum involved, and Instinet’s initiative to cease the relevant trade flows and cooperation with the SFC in resolving the SFC’s concerns.”
“ Hong Kong SFC Fines Nomura Hong Kong Independent Broker Instinet Pacific $1 Million for Failure to Report $3.3 Million in 8,817 Pairs of Cross Trades Between Clients & Affiliated Company to Stock Exchange of Hong Kong (SEHK) “
![](https://www.caproasia.com/wp-content/uploads/2025/08/Air-Charter-Service-728x90-1.png")
Notes:
- Instinet is licensed under the Securities and Futures Ordinance to carry on Type 1 (dealing in securities), Type 4 (advising on securities), and Type 7 (providing automated trading services) regulated activities. Instinet is also an Exchange Participant registered with the SEHK.
- The Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission.
- Please refer to the Statement of Disciplinary Action for the relevant regulatory requirements.
A copy of the Statement of Disciplinary Action is available on the SFC website
Hong Kong SFC Fines Nomura Hong Kong Independent Broker Instinet Pacific $1 Million for Failure to Report $3.3 Million in 8,817 Pairs of Cross Trades Between Clients & Affiliated Company to Stock Exchange of Hong Kong (SEHK)
Caproasia Users
- Manage $20 million to $30 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2026 Investment Day
- March - Hong Kong
- March - Singapore
- April - Hong Kong
- April - Singapore
- July - Hong Kong
- July - Singapore
- Sept- Hong Kong
- Sept - Singapore
- Oct- Hong Kong
- Nov - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
