Hong Kong regulator fines TC Capital International $3m over diligence failures 

Mark Battersby
clock • 3 min read

The Securities and Futures Commission (SFC) has reprimanded and fined TC Capital International Limited (TC Capital) $3m for failing to discharge its duties as the sponsor in the listing application of China Candy Holdings Limited (China Candy). In a statement on 1 August, the SFC said its investigation found that TC Capital failed to: conduct reasonable due diligence on the third party payments made on behalf of two top customers of China Candy; and maintain proper records of the due diligence work allegedly done in relation to the listing application. The SFC has also suspend...

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