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Alternative Market Briefing

Hong Kong SFC cautions against disguised margin financing
Friday, August 03, 2018

Matthias Knab, Opalesque:

The Hong Kong Securities and Futures Commission (SFC), in the course of its ongoing supervision of licensed corporations (LCs), has observed that some LCs carrying on asset management activities may have aided and abetted unlicensed affiliates or third parties to provide securities margin financing in the guise of investments.

"Deliberate use of an investment arrangement to conceal unlicensed margin financing activities is illegal," said Ms Julia Leung, the SFC's Deputy Chief Executive Officer and Executive Director of Intermediaries. "Anyone involved in these illicit arrangements may be liable to prosecution and should cease them immediatel......................

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