The Hong Kong Securities and Futures Commission (SFC) has reprimanded and fined KTF Capital Management Limited (KTFCM) HK$400,000 (US$51,000) for failures to comply with the Securities and Futures (Financial Resources) Rules (FRR), a liquidity regime.

The SFC found that KTFCM failed to maintain its required liquid capital of approximately HK$2.8m between 13 and 18