Regulatory Alerts2026-07-24
Added · Updated
SFC reprimands and fines Victory Securities Company Limited $1.7 million and suspends responsible officer
The Securities and Futures Commission fined Victory Securities Company Limited $1.7 million and suspended its responsible officer, Stephen Chiu Che Leung, for three months for regulatory breaches regarding a client account. Victory failed to adequately scrutinize red flags indicating potential fraud and did not report the client's deceptive conduct, violating the Code of Conduct and Anti-Money Laundering Ordinance. The sanctions were determined considering the isolated nature of the incident, the firm's subsequent internal enhancements, and cooperation with the regulator.
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